FCA finds "many" advice failures and misleading promotions among equity release firms

Firms advising on equity release are being told to review anFCA reportand act immediately where needed.

By Neasa MacErlean

The review covered half of the 'later life mortgage' sector, finding "many" cases of advice that did not match the required standards. FCA involvement also prompted the "removal or amendment of almost 400 misleading promotions".