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Watch Out For Vultures Consuming Lifetime Mortgages

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More misselling.

Is there going to be a single segment of the debt/credit market that isn't going to be a cesspool of litigation at some point in time in the future?

http://business.scotsman.com/finance.cfm?id=1067762006

Watch out for vultures consuming lifetime mortgages

LIZ DOLAN

ELDERLY homeowners struggling to make ends meet while living in a fast-appreciating asset are easy meat for those who make their living by flogging lifetime mortgages.

The Financial Services Association announced last week that a mystery shopping exercise had uncovered "an unacceptable level of mis-selling" of lifetime mortgages. Advisers "consistently failed to explore in depth the impact of lifetime mortgages on clients' future options", it said (absolutely vital, as it is virtually impossible to unwind agreements once made).

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More misselling.

Is there going to be a single segment of the debt/credit market that isn't going to be a cesspool of litigation at some point in time in the future?

http://business.scotsman.com/finance.cfm?id=1067762006

Watch out for vultures consuming lifetime mortgages

LIZ DOLAN

ELDERLY homeowners struggling to make ends meet while living in a fast-appreciating asset are easy meat for those who make their living by flogging lifetime mortgages.

The Financial Services Association announced last week that a mystery shopping exercise had uncovered "an unacceptable level of mis-selling" of lifetime mortgages. Advisers "consistently failed to explore in depth the impact of lifetime mortgages on clients' future options", it said (absolutely vital, as it is virtually impossible to unwind agreements once made).

I've just seen another story about IO mortgages, this time in the Observer. Interesting how such stories have come out in the last week. Is the country waking up, or are the banks sending warnings to their customers before changing their criteria?

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  • 301 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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