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The risks of carry-forward loan

The pension transfer review still continues, which was shortly followed by the alleged misselling AVC/FSAVC review and the endowment review.

Many financial advisers have since been heard asking the question “What next?” Well, it seems there is unlikely to be a shortage of future material for the financial journalists and regulators. The latest scheme from a major bank and IFA

offering a loan to mop up unused relief before carry-forward ceases would appear

to be just another example.

One journalist wrote in the Financial Times that the downside with the scheme is the exposure to interest

rate risk. Now where did I hear that before? That&#39s it, I remember – home income plans in the 1980s before the Ship schemes, I think. It cost one building society dearly, I recall. Something about unexpected increases in interest rates.

Terry Still

Partner, Finmor

Associates,

Swindon

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