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In June 2003 the then Chief Secretary to the Treasury, Paul Boateng, initiated a consultation and in the following month he announced in response to oral questions, "All mortgage-based equity release schemes will be regulated by the Financial Services Authority with effect from 31 October 2004." [20]
The Equity Release Council is the UK's equity release industry body that sets standards to protect consumers. Its members commit to following a set of five product standards: fixed or capped interest rates (for lifetime mortgages), the right to remain in the property, the right to move to another property, the ‘no negative equity guarantee ...
They are a broad scheme of regulations covering: [3] Mortgage selling; Communication; Financial promotion; Conduct of advising and selling; Disclosure of information; Terms of offer documents; Duty to treat customers fairly; Duty to keep records; Equity release schemes; Arrears and repossessions; Calculation of the annual percentage rate
The Billion Dollar Bubble is a 1976 film made for the BBC series Horizon and directed by Brian Gibson about the story of the two-billion-dollar insurance embezzlement scheme involving Equity Funding Corporation of America. The movie stars James Woods in the role of the actuary. It was broadcast in Britain on 8 November 1976. [1]
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The top saving accounts from major high street banks have been revealed by money-saving expert Martin Lewis. Mr Lewis highlighted the country’s best savings accounts during his Martin Lewis ...
Here are eight of Martin Lewis’s top pensions advice 1. Pensions are saved from pre-tax income.
More than one million people overpaid on their student loan and are eligible to claim back hundreds or thousands of pounds, Martin Lewis has revealed. Many repaid on their student loan, even ...