Home reversion regulations published

Both are due to become regulated products on 6 April 2007 with the FSA accepting applications for authorisation to advice on both products from 6 November. The regulator says the rules have been designed to ensure people who wish to take out either product are given the same consumer protections as those already in place for equivalent products - lifetime mortgages and conventional mortgages - which will have been regulated by the City Watchdog for two years on November 1. The FSA has already published details of the authorisation process on its web-site. There will also be an interim au...