CML calls for joint effort on equity release

Professional Adviser
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The Council of Mortgage Lenders has called for a co-ordinated effort by government, regulators, finan...

The Council of Mortgage Lenders has called for a co-ordinated effort by government, regulators, financial advisors and consumer groups to come up with some ground rules for taking the equity release market forward. Equity release enables older home owners to essentially take out a second mortgage that can be used to provide an improved standard of living. The CML says that the rapidly ageing UK population means the time to set rules in place to develop standardised products for this market is now, not in the future. The last decade's rapidly rising property prices has left man...

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