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FSA says too early to say how regulation will work

The FSA has welcomed the Treasury announcement on home reversion plans, saying it will bring clarity for consumers and that reversions carry comparable risks to lifetime mortgages.

Press officer Robin Gordon-Walker it is too early to say how it will regulate home reversion but it will go through a consultation process in due course.

The FSA confirmed the decision would not affect mortgage regulation in October and that regulation would include lifetime mortgages providing they meet the mortgage definition set down in legislation.

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