Home reversion to be regulated...but not by M-Day

A statement from Ruth Kelly MP this morning says the Treasury will now require the sale and design of all home reversion plans to be included under the new FSA regulated regime. "Buying a home reversion policy is a huge financial decision involving the most important, and sometimes only significant, asset of elderly people," says Kelly. "It can have significant implications for tax, benefits, inheritance and long-term financial planning. Regulation will help people to make informed choices, offer valuable consumer protection and ensure that there is a level playing field in the equity...