Gov't publishes bill to regulate home reversions

The changes mean all equity release products and Shari’a law compliant home purchase plans will be, as planned, be regulated by the FSA from April 2007. Ed Balls, economic secretary to the Treasury, says the changes will offer “valuable new protection for consumers wanting to release equity from their home and for people taking out Ijara home finance plans.” The introduction of the bill follows a Treasury consultation which ran from March to June this year. The Treasury says the bill will be debated in Parliament in October with the FSA publishing the results of its separate consultatio...