'Unfit' equity release advice could lead to mis-selling

The IPPR is warning financial advice on equity release needs to be improved, and suggests the government should set up a free generic financial advice service for older people called “Money Doctor”. In its report entitled ‘Housing Wealth: First Timers to Old Timers’, the think-tank claims there are almost one million pensioners who own houses worth more than £100,000 but live on means-tested benefits, and, at the moment it claims, there is a real risk of mis-selling in this area as free generic financial advice is not widely available while advice from IFAs is both expensive and "of poor...