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Nemo Loans
 

 
Mortgages PLC Credit Cards
 

 
But in its review of compliance by small mortgage brokers published yesterday, the FSA said there were still "too many cases" where firms did not follow the required procedures.
 
The investigation underscores a warning delivered by the FSA in May, when it told chief executives of mortgage lenders to improve the information they gave consumers about home loans.
 
The investigation underscores a warning delivered by the FSA in May, when it told chief executives of mortgage lenders to improve the information they gave consumers about home loans.
 
The FSA is also conducting a review of small mortgage firms' activities in the self-certified market, where borrowers certify their own incomes, and will publish its findings this autumn. The FSA assumed oversight of mortgage regulation since October at the request of the government. The mortgage industry has about 2.75m consumers each year and the property market is worth about £3,000bn.
 
Since October companies have been required to supply customers with an initial disclosure document, which details the services it provides, and a key facts illustration giving personalised information about costs and risks of products. The documents are part of the regulator's drive to improve customer understanding of mortgages.
 
Companies that grant loans to people with poor credit histories have been warned they could face enforcement action after the Financial Services Authority discovered three small mortgage brokers published yesterday, the FSA said there was little evidence of how the brokers' recommended
 

 

 

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