You are here: Home - Uncategorized -

Mortgage errors ‘still too common for comfort’

0
Written by:
30/06/2006

The Financial Services Authority (FSA) has said that too many small mortgage lenders and brokers are still misleading customers about their fees and charges.

A survey conducted by the FSA found that more than a quarter of brokers issued Key Facts Illustrations – which are supposed to detail all the charges and terms of a homeloan – containing significant errors.

Clive Briault, the FSA’s managing director of retail business, said: “Providing consumers with clear and relevant information is a key element in consumer protection because it enables them to make informed decisions and shop around.”

Mortgage broker John Cornell said: “The FSA seemed to think that overall the quality of mortgage advice had improved over the past year. I suppose there will always be a minority who spoil it for the rest of us.”

Related Posts

Tagged:

Tag Box

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

ISAs: your back-to-basics guide for 2018/19

Here’s everything you need to know to make the most of your unused ISA allowance ahead of the 5 April deadli...

A guide to Sharia savings accounts

A number of Sharia savings products have upped their game in recent months, beating more familiar competitors ...

Five ways to get on the property ladder without the Bank of Mum and Dad

A report suggests the Bank of Mum and Dad is running low on funds. Fortunately, there are other options for st...

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

Having a baby and your finances: seven top tips

We’re guessing the Duchess of Cambridge won’t be fretting about maternity pay or whether she’ll still be...

Protecting family wealth: 10 tips for cutting inheritance tax

Inheritance tax - sometimes known as 'death tax' - can cause even more heartache for bereaved families. But th...

Travel insurance: Five tips to ensure a successful claim

Ahead of your summer holiday, it’s important to make sure you have the right level of travel cover or you co...

Money Tips of the Week

  • RT @procopywriters: Self-employed workers lose an annual average of twenty days chasing unpaid invoices. As the growth of the #freelance la…
  • RT @procopywriters: Self-employed workers lose an annual average of twenty days chasing unpaid invoices. As the growth of the #freelance la…
  • RT @procopywriters: Self-employed workers lose an annual average of twenty days chasing unpaid invoices. As the growth of the #freelance la…

Read previous post:
Customers ‘unfairly ambushed’ by heavy energy bills

Gas and electricity customers are being ‘ambushed’ by huge quarterly bills showing they are deep in debt to their energy...

Close