Boz33
Striker
I’m betting it’ll be the same thing, at the end of the day you still have folk selling products to people, so there will be a fair few who were economical with the truth, to get their selling bonuses and there’s the way in for compo.I take your point but talking about an unregulated product sold to millions (with dreadful bank records) v a regulated product where I’d expect the level of record keeping and documentation to be higher and for something that is used by a much lower proportion of society.
I’m sure there will be cases but it’s not going to be like PPI or PPI2 with billions set aside. IMHO.
How much it’ll cost I’ve no idea as I assume although PPI would be many more cases, the amounts would be lesser, than the amounts given over for equity release.
You’d also have to factor in the value of the houses vs the equity released and were all valuations above board.
Loads of possibilities and outcomes