Archive for the ‘FSA’ tag
7 Questions to Ask an Advisor About Equity Release Schemes
According to Hodge Lifetime, seeking specialist equity release scheme advice is playing a greater role in the equity release market.
FSA Regulation Sees Sale-and-Rent Back Rogues Facing Fines & Even Jail
Earlier this month the FSA introduced the first stage of its interim regulation governing the Sale-and-Rent Back (SRB) sector. The FSA are warning organisations which have not received permission to operate in this sector that they could face jail and a significant fine.
The new regulation is the first of many stages to be rolled out, which will help to protect homeowners from serious financial loss and prevent them from losing their homes.
Equity Release Brokers
There are many equity release brokers out there, offering a whole array of different plans between them. Most equity release brokers deal in lifetime mortgages or home reversion plans, and a few equity release brokers can offer both types of plan. Whether you’re searching for a lifetime mortgage or a home reversion plan, it’s important to pick the right broker as this is a lifelong commitment and you want to get it right.
Financial Services Authority to Regulate Sale and Rent Back Schemes
The Financial Services Authority has announced that it is to regulate Sale and Rent Back Schemes. The news was welcomed by Tim Loy, Chief Executive of equity release advisors Age Partnership who said, “This is good news for consumers and the equity release market. Unregulated Sale and Rent Back Schemes have often been confused with regulated equity release plans and this should create more of a level playing field. Unlike equity release plans, sale and rent back schemes generally do not offer security of tenure to the client and also require rental payments to be made, whereas with equity release there are normally no monthly payments to make”.
