The Financial Conduct Authority (FCA) is considering its regulation of the equity release market amid concerns a "dirty word" reputation has led to an under-functioning market.
The regulator has invited industry and consumer views on equity release as part of a new study of the mortgage market, following its implementation of the Mortgage Market Review (MMR). It wants to see how regulation can help foster "more of a market" in areas like equity release, which it said in recent years had become "a dirty word". The regulator said it was keen to address the problem of affordability in retirement and has identified unlocking the value of a home as a potential remedy. This was particularly true for an older population that is increasingly asset-rich but cash-p...
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