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SHIP sets up home reversion regulation working party

Consumer protection body Safe Home Income Plans has set up a working party to contribute ideas to the consultation for equity release regulation.

Ship has set up the working party following the publication in December 2002 of the Working and Saving for Retirement green paper by the Department for Work and Pensions.

Ship chairman Jon King says: “The forthcoming regulation of lifetime mortgages offers the perfect opportunity to bring in much needed regulation of reversions. It is absolutely vital that the regulatory structure should be fair and workable.”

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