Hector Sants, chief executive of the FSA, has responded to mortgage adviser Stuart Duncan's open letter, in which he expressed his concerns about dual-pricing in the mortgage market.
Duncan's original letter can be read here, while Hector Sants's response is below: Dear Mr Duncan, Thank you for you e-mails of 11 May and 14 May. I take on board the points you make and would like to offer the following comments: Dual pricing as a commercial decision As I stated in my speech to the BSA and Jonathan Fischel reiterated in his speech on 15 May in Manchester, how a lender chooses to distribute its products is entirely a matter for the firm to decide. If a firm chooses to distribute its products through its branch network rather than through intermediaries or through inter...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
