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Could equity release plans become more popular after FSA criticises pension advice?

Mon 12th Apr 2010

Following the results of its latest report, the Financial Services Authority (FSA) has criticised the information given to people looking to switch their UK pension schemes.

The comments could encourage a number of Expats with property in the UK to seek equity release advice to see how they could boost their retirement income with cash taken from the value of their property.

According to the FSA report, around £150 million in redress will be delivered to those who received "unsuitable advice".

However, Dan Waters, the organisationís director of conduct risk, said a number of firms still need to improve their services.

"Although many firms have changed the way they operate, we remain concerned that some continue to give poor advice," he said.

"Ignorance is no defence and we will continue to focus on the high risk firms through intensive supervision."

Expats considering equity release on a UK property as a way of boosting their retirement funds could see how much cash they could generate by contacting a professional and experienced Equity Release Provider.

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