The FSA has slammed the "unacceptable" number of mortgage firms failing to treat their customers fairly following a series of reviews which could see up to 75 brokers face regulator action.
The FSA today announces the findings of four reviews into the mortgage advice industry, concluding several brokers “continue to operate well below standard”. Dozens of firms are offering deals they know are unaffordable to their clients, while others are accepting self-cert business despite concerns over the accuracy of the financial information submitted to them, the FSA says. As a result, seven firms have been referred to the FSA’s enforcement team and a number of other firms are being considered for referral. In addition, a further 65 firms are to undertake costly past business review...
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