FOS finds against equity release adviser

Carmen Reichman
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The Financial Ombudsman Service (FOS) has ordered an equity release provider to repay a client the cost of a lifetime mortgage after it found the client had received bad advice.

The FOS decided the firm was wrong to advise its client to take out a lifetime mortgage and should have instead told him to use a tax free lump sum from his pension to fund an investment. Mr and Mrs...

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