IFS equity release questions lack consistency and clarity

With reference to question number one on page 69 of the February 26 issue I am of the opinion that the question and subsequent answer are either incorrect or unclear.

The question states: ‘…raise the maximum capital from their home…’. This would indicate a 100% home re-version deal. But with the majority of home reversion providers, there will not be any further cash available.

When setting equity release questions, the Institute of Financial Services does not provide consistency or clarity. This means pupils have to spend undue time assessing questions prior to answering them.

As Dean Mirfin is one of your contributors, might I suggest that you send a proof for him as he could clarify opaque questions.

AJ Lyte
Financial planning consultant
Centarus
By email