That Starmer fella...

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kl in reply to @hugo7

On the face of it, it seems a no-brainier. Your house is worth lots, you need a regular income for an undetermined, but finite period.

But on what terms? Whoever takes on the lending risk will want their money back, and more on top. You can end up with this rapacious bullshit:

https://www.bbc.co.uk/news/uk-england-nottinghamshire-67122324

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🅑🅐🅣🅣 in reply to @kl

"You can end up with ... " is not an argument. You can find awful precedents for most things.

Terms would be for gov to establish.

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kl in reply to @🅑🅐🅣🅣

"You can end up with ... " is not an argument.

It wasn't an argument, it's an example of how equity release may not be the no-brainer it was described as, and can be problematic if left to the market without sound product governance ensuring it works in the customer's interests.

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