The ABI has welcomed the Treasury's decision to regulate home reversion schemes, calling it the 'most sensible way forward'.
The trade body, like many industry groups, has lobbied the Treasury extensively to change its mind and introduce legislation to regulate home reversion.
Until now, the Treasury has resisted, saying there has been no evidence of consumer detriment and therefore no need to regulate.
ABI spokeswoman Emma Quantrill says: “We are very pleased, we have campaigned long and hard for the change. We think it's the most sensible option to take.”