IFAs warned ahead of home reversion deadline

After the regulation of home reversion schemes in April last year, SHIP, the UK equity release providers' industry body, decided advisers wishing to do business with its members must hold a home reversion qualification from 6 April 2008. In addition, IFAs must ensure they have applied to the FSA for their Variation of Permissions, which will enable them to offer home reversions. SHIP also urges intermediaries to ensure they have appropriate Professional Indemnity cover, advising them the premium is not likely to increase by a vast amount, if at all, due to the number of companies offering...