FCA warns on equity release mortgage boom

FCA building HQ source FCA 230x150
By Owen Sanderson
06 Nov 2018

Chris Woolard, executive director of strategy and competition at the UK’s Financial Conduct Authority, has warned mortgage bankers about the explosive grow in the lifetime mortgage section of the market — a move driven partly by regulatory changes for the UK’s life insurers.

Woolard said, speaking to the UK Finance Annual Mortgage Conference, that sales of the products have nearly doubled over the last five years, with the products on offer proliferating. He said that as of August, 139 products were available, compared to 58 in 2016, and just 24 in ...

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