It's been one year since home reversions became regulated. Simon Little looks at the impact this has had on the equity release market
The 6th April 2007 was not just the start of another new tax year; it also heralded the introduction of regulation to home reversion plans. Whereas lifetime mortgage regulation was somewhat shoe-horned into the MCOB (mortgage conduct of business), regulation for home reversion plans came about as a result of consistent pressure from within the industry to guarantee a level playing field across both product types. It has given intermediaries and their clients comfort and reassurance that they are now afforded the same level of protection irrespective of the product recommended. In hindsigh...
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