The inadvertent pressures of TCF and technology

Anyone who remembers the original proposals for MCOB regulations in 2001– CP98: The draft mortgage sourcebook – may recall a little clause in the proposals suggesting lenders ought to be responsible for ensuring the quality of advice given to consumers is suitable, and lenders would be penalised if it is found to be lacking. Unsurprisingly, the industry pointed out this would unfairly penalise lenders who could have no control over the quality of adviser standards at independent intermediary firms, and the concept was this time dropped. But the general idea, it seems, has always been hove...