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Equity release sector to get TV grilling tonight

Tonight with Trevor McDonald is this evening taking a look at the equity release market in the run-up to Financial Services Authority regulation of the sector in April.

The programme focusses on customers who were sold unsuitable equity release products in the past and are still paying the price.

Experts who are interviewed on the programme say there is 400bn worth of property owned by retired people in the UK and they predict that this untappedcapital could lead to the equity release market doubling in the next year.

But the programme features interviews with borrowers who have hit problems after taking out the product. It airs at 8pm tonight on ITV1.


Employed self-cert clients should not be excluded

Reading Kevin Paterson’s article entitled ‘Lenders’ employed self-cert offers will come back to haunt borrowers’ (Mortgage Strategy March 5), I was disappointed to see the sort of ill- conceived criticism of our industry that is normally the preserve of the more sensationalist elements of the consumer press. There is no doubt that self-cert has a […]

Data security is an issue for us all

The case of Nationwide and the stolen laptop stuffed full of client details for which it was recently fined by the Financial Services Authority probably raised a few smiles. There was some satisfaction in seeing a mighty company such as Nationwide brought low.

Don’t dumb down mortgage exams

The most amazing thing to see in a Financial Services Authority consultation paper is an endorsement of the status quo. But that is more or less the situation with the consultation on the FSA’s Training and Competence Sourcebook.

Surprises await house hunters

Ghosts, pets with their own bedrooms and copulating couples are some of the unusual experiences reported by house hunters in research by Smile Mortgages. It found that 23.5% of people viewing homes have reported unusual experiences. These ranged from owners giving pets their own bedrooms to experiencing ghost-like presences. Some have been locked into houses […]


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