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- Publisher
- Emerald Publishing
- Copyright
- Copyright © Emerald Group Publishing Limited
- ISSN
- 1358-1988
- DOI
- 10.1108/eb024830
- Publisher site
- See Article on Publisher Site
Abstract
A number of investors, among them the appellants in this case, took out home income plans HIPs promoted by insurance brokers who were FIMBRA members. Mortgage loans were raised under these plans on the security of the appellants' homes and the capital so obtained was invested in income producing equity linked single premium investment bonds. The values of property and equities then fell, interest rates rose sharply and the appellants' sustained serious losses in that they were left with mortgage liabilities they could not meet.
Journal
Journal of Financial Regulation and Compliance – Emerald Publishing
Published: Jan 1, 1995