The level of equity release advice being offered to home-owners is not always up to scratch, according to the Financial Conduct Authority (Joe Giddens/PA)The level of equity release advice being offered to home-owners is not always up to scratch, the City regulator has found. Lifetime mortgages are a form of equity release, allowing people to borrow money using their property. The decision to take out equity release can have big financial repercussions. The cost of compounding interest over a long period of time can make equity release an expensive way to meet a short-term borrowing need. For some people, equity release can be an attractive option, it said, enabling them to unlock wealth from the value of their home, which may be their main or only asset.

Source: Irish Independent June 17, 2020 11:37 UTC