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PI firm to look at equityrelease sales case by case

One PI broker is known to be looking at IFA equity-release sales on a case by case basis, with others considering similar steps.

The news follows an FSA warning last week that it was concerned about equity-release misselling.

One of the biggest IFA PI brokers, NCG Professional Risks, which operates Bankhall&#39s PI facility, is looking at some firms&#39 equity-release sales case by case.

PYV is also considering this strategy and says it is paying close attention to the equity-release market and monitoring income drawdown sales. Managing director Ian Boscoe says PI brokers are looking carefully at equity release products that are not Ship approved.

FSA head of retail Clive Briault raised concerns about equityrelease products at the Labour Party conference last week, saying he believed the next two misselling scandals were likely to be equity release and pension unlocking.

NCG did not wish to comment.


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