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The Independent UK

Business

Vicky Shaw

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

PA Archive

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.

The Financial Conduct Authority (FCA) said its review had found many inaccurate or misleading promotions, product benefits being highlighted without any balancing description of the risks, and firms using their FCA regulated status “in a promotional manner”.

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