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Key Retirement Solutions welcomes possible introduction of home reversion regulation

Key Retirement Solutions welcomes the third reading of the Bill to introduce formal regulation of home reversion schemes. The reading that took place yesterday paves the way for royal assent to be granted by the end of the year.

Dean Mirfin, business development director of Key Retirement Solutions, says: “We welcome the passing of primary legislation on the regulation of home reversion schemes. This move will help to ensure that all consumers who choose to use equity release will receive an equal amount of protection and support from the FSA.

“Home reversion products currently account for only 5% of the total value of equity release plans sold in Q3 2005. With the widening perception that the housing market is slowing, their relative attractiveness is increasing and it is likely that more reversion plans will be sold in 2005 than in 2004. With this potential growth and in order to build consumer confidence in the industry, we fully support the governments attempts to implement these changes in a smooth and timely manner, which complements existing mortgage regulation.”


QDL gets broking service manager

Quick Decision Loans, the Farnborough-based sub-prime loan packager, now has Jackie French as broking service manager.

Brunig sets up HIP provider for the independent market

Peter Bruning, who resigned as chairman of SecureMove in June, has revealed to Mortgage Strategy he is launching an alternative Home Information Pack provider to cater for the independent market.

Mainstream market is compliant in parts

Following its research into the self-cert and sub-prime markets, the Financial Services Authority has looked into the practices of brokers in the mainstream mortgage market, in particular the quality and suitability of advice given to customers.

NFRL warns local authorities are not following Housing Act 2004

The National Federation of Residential Landlords says it is concerned that the implementation of the Housing Act 2004, due in April 2006, may not be followed by local authorities in England.The government expects a light touch for good residential landlords and a heavy hand for those landlords who do not manage their properties to a […]


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