SHERPA has now ceased operating.
The Safe Home Equity Release Plans Association (SHERPA) is a not for profit association supported by New Zealand’s leading providers and distributors of Home Equity Release Plans.
Launched in May 2005, SHERPA is dedicated entirely to the protection of plan-holders and the promotion of safe home equity release plans.
For your information, please note that the decision has been taken for the Safe Home Equity Release Plans Association (SHERPA) to cease operations with effect from 30 September 2014.
This decision has been taken in light of the following:
· Banks now dominate new reverse mortgage lending in NZ.
· Banks generally see the NZ Banking Association as representing their interests and hence, SHERPA has become less relevant.
· In the formative days of the newly emerging sector, SHERPA played a leading role in ensuring development of industry standards that, we believe, remain amongst the best in the world.
Outside of loan providers, information about reverse mortgages can be accessed at:
· Citizens Advice Bureau http://www.cab.org.nz/vat/money/lc/Pages/Homeequity.aspx
· Office of Senior Citizens (Code)
· Consumer NZ articles