FSA denies equity release research is misleading

In research issued yesterday, the FSA claimed it “found that once a lifetime mortgage has been sold consumers are being advised to invest some of the equity released in products that are not suitable for their needs and may unnecessarily expose them to risk. The FSA has not ruled out the use of its enforcement powers following the results of this work”. A statement following the research from the FSA said it “wanted to look closely at the subsequent investment advice given to consumers who had released equity from their properties" as the financial services industry watchdog “suspected i...