Which? has been investigating competency among mortgage advisers and has found that many are omitting to check information on clients’ abilities to meet repayments.The consumer group sent its researchers to gather advice from banks, estate agents and independent mortgage advisers.Acting as first-time buyers, they visited 24 banks, 13 estate agents and 13 independent mortgage advisers [...]
It is also sad to read that brokers are not doing the basics (IDD and KFI) etc. Every one in the industry is feeling the pinch but that does not mean that clients should be given unsuitable advice.
I believe that these people will be out of business before long (either by not having customers or FSA taking action against them).
Mick
Last edited by MK Financial : 08-03-2008 at 10:18 PM.
Which? exposes incompetent mortgage advice
