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Warning on home-reversion regulation

Equity release specialist IFA Key Retirement Solutions is warning of a potential home reversion misselling scandal unless the FSA includes such products under its mortgage regulation regime.

The IFA is concerned that if home reversion plans remain self-regulated many advisers will choose to remain outside the scope of the FSA by selling them and not equity release mortgage products.

It says the reversion plan market is growing, with over £95 million sold in the first six months of this year, up from £89m last year.

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