The Association of Mortgage Intermediaries has launched a web page for members providing information on equity release products and a "good practice" factsheet.
Ami says it is keen to keep its members up-to-date with issues surrounding equity release because they are complex products and the standard of advice given to consumers about them needs to be raised. The results of the work carried out by the Financial Services Authority (FSA) - published in May 2005 - identified failures in the areas of information gathering and in evidencing suitability of recommendations. As a result, the FSA is repeating its mystery shopping exercise this month on a much wider scale and Ami warns those offering advice on equity release to ensure they are up-to-da...
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