Financial Services Authority (FSA)

The Government’s Financial Services Authority (FSA) regulates both lifetime mortgages and home reversion plans.

All authorised firms must adhere to strict rules governing advice and, in the event of a complaint, consumers have access to both the Financial Services Compensation Scheme and Financial Ombudsman Service if required.

You can visit the FSA website for more information – www.fsa.gov.uk

Safe Home Income Plan (SHIP)

CCCS Equity Release prefer to recommend plans from providers who pledge to observe the SHIP Code of Practice. SHIP members offer the following safeguards:

• All information on their plans will be fair, simple and not misleading.
• No negative equity guarantee. Your debt will never exceed the value of your home.
• The right to remain in your home for life or for as long as you choose.
• The freedom to move to another property without financial penalty.
• Independent legal advice is compulsory.

You can visit the SHIP website for more information – www.ship-ltd.org