A couple are facing poverty in retirement and risk losing their home after their IFA advised them to invest in a high risk scheme that has left them £500,000 in debt.
The equity release market could exceed £1 billion this year after the third quarter saw plan sales and lending rise by 11%.
Interest-only, sub-prime and self-certification mortgage borrowers will start to launch mis-selling claims slowly, but volumes will build to a crescendo, claims management boss said.
Retirement Planner's round-up of the top pension stories this week.
Almost half a million people will retire over the next 30 years saddled with average mortgage debts topping £50,000, research suggests.
The whole of Savills Lending Solutions' workforce has been placed into consultation.
The Financial Services Compensation Scheme has this morning declared another 65 investment intermediary firms have fallen into the industry-paid compensation pot for consumer mis-selling claims.
NORWICH UNION is again cutting payouts on maturing mortgage endowment policies, even though its main with-profits funds returned 17.7% before tax last year, says this morning's Guardian .
News of a possible increase for IFAs in the cost of the FSCS levy has sparked a flurry of angry comments from financial intermediaries and calls for a new solution to the funding problem.
The Financial Services Compensation Scheme (FSCS) has warned its levy may have to rise again in the next financial year to meet the cost of compensation claims.