New rules for lenders handling mortgage arrears

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New rules for lenders handling mortgage arrears

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06-25-2010, 04:34 PM

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New rules for lenders handling mortgage arrears

The Financial Services Authority (FSA) has published new rules aimed at protecting vulnerable customers in arrears on their mortgages.From 30th June, homeowners in arrears must be treated fairly by lenders and the following key areas have been confirmed:Firms must not apply a monthly arrears charge where an agreement is already in place to repay the [...]

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