Poor advice and misleading promotions found by FCA in later life mortgage review

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy The City regulator has worked with later life mortgage firms to improve their advice processes and prompted the removal or amendment of nearly 400 misleading promotions. “Our review led to the largest later life mortgage firms making improvements to their sales and advice practices, and almost 400 promotions have been removed or amended where firms have identified issues with them. The majority of firms in scope of the later life mortgage review changed how their advisers are incentivised, the FCA said. We share the regulator's commitment to putting customers first Jim Boyd, Equity Release Council Jim Boyd, chief executive of the Equity Release Council, said: “We support the FCA’s engagement with the lifetime mortgage sector, which helps tens of thousands of customers each year to enjoy better standards of living.