The Association of Mortgage Intermediaries (Ami), Building Societies Association (BSA), Equity Release Council (ERC), UK Finance and The Investing and Saving Alliance (TISA) all worked together on the guide, which looks at all of the different tips and product options available for older borrowers.
The organizations behind the brochure say they hope it will ensure consumers receive consistent messages from all major sectors of the industry.
They hope this will help customers find the most suitable products and understand their next steps.
Each professional body will promote the guide online and also by distributing hard copies to consumers who wish to learn more about the release of equity capital.
Ami Chief Executive Officer Robert Sinclair said, “We hope this partnership will be enduring in helping many vulnerable people navigate complex options with basic facts.
“All firms and advisers are free to use it and it is accessible on all the websites of professional organizations.
Key Managing Director Will Hale said, “The end-of-life loan industry is growing and taking its rightful place in the range of homeowner loan options.
“However, it can be difficult for clients to fully understand all of their options at the start of their journey, which is why this new guide is so invaluable.
“At Key, we are thinking about the role this guide could play as part of our customer engagement process and how it can support our ambition to meet a wide range of customer needs.
“With five of the most influential trade bodies in this market coming together to create this insightful work, this is a huge step forward for the industry and, hopefully, a sign of a greater collaboration in the future. “