The consultation mentioned in the following article by HMRC is hardly worth the cost of the consultation. http://www.moneymarketing.co.uk/mortgages/hmrc-consults-on-pulling-mortg... According to the article only £400,000 would be made by the Government for people who are pensioners and have come to rely on their home income plans. I really do think this is a waste by HMRC to focus on something so small and could cause some really difficulty for vulnerable members of our society. This will do no favours for the Equity Release Industry even though this will not affect recent equity release cases. As an IFA and mortgage broker in London who is qualified to give advice on equity release I hope the adverse publicity from this will not prevent those people for whom equity release is appropriate and would be beneficial.
This information is intended to provide a general review of certain topics and its purpose is to inform but not to recommend or support any specific investment or course of action. The tips may not apply, or be suitable, to everyone and you should contact us for advice if you are unsure whether this is the case.