Being appointed are Paul Barber, director of home reversion provider Bridgewater Equity Release, Colin Taylor, chief executive of Key Group and Jon Tweed, sales director of provider Hodge Lifetime.
They will serve for two years until 2016.
Nigel Waterson, chairman of the Equity Release Council, said: “Having seen our membership recently pass the 320 mark, The council continues to strengthen its representation across the industry and we are delighted to be able to draw on Paul, Colin and John’s collective experience through their positions on our board.
“With people typically living for longer, the ability to draw on housing equity to boost their savings is proving invaluable to many, and allowing them to enjoy a comfortable and financially secure retirement.”
Their appointments come in the wake of record lending figures for Q1 2014, when the total value of new equity release plans hit £315.5m.
This was 35% higher year-on-year and the largest ever total for the first three months of any year since quarterly records began in 2002.