Date-stamp loading
Version date: 1 September 2011 - onwards
    Version 1 of 1    

Retail Financial Product: Housing Loans, Home Reversion Agreements and Associated Insurances (effective from 1 December 2011)

1. Legal

  • To distinguish between ownership and possession of property and explain the two main different forms of ownership and possession of property.

2. Housing loands and home reversion agreements

  • To describe the main features, benefits, restrictions and risks for the consumer of the different generic types of housing loans, including in particular the capital & interest, endowment, pension and interest only mortgages.
  • To explain what a home reversion agreement is, its main features, benefits, restrictions and risks for the consumer, and how a home reversion agreement differs from a housing loan.
  • To identify the main forms of security typically required by a mortgage lender in relation to providing housing loans to consumers.
  • To explain the main benefits and risks for the consumer associated with endowment, pension and interest only mortgages.
  • To explain the main benefits and risks for the consumer associated with home reversion agreements.
  • To compare and contrast the differen
Comparing proposed amendment...