CII to launch home reversion exam unit

The new FSA rules come into force on 6 April and require anyone advising consumers or overseeing the non-advised sales of home reversions to pass an appropriate exam. The home reversion plan unit (HR1) will be a top-up for those who already hold the CII’s lifetime mortgages activities unit and study materials will be available in March. Advisers completing the unit will need to demonstrate an understanding of the circumstances in which a home reversion plan might be appropriate and how these are influenced by consumers’ preferences and financial needs, the impact on consumers’ future op...