Special Official Note For Mortgage Brokers

AndrewSmith

I will check with my compliance guy in the morning whether there is actually a need for the regulatory statement.

jamesd

Andrew, I like the new one, would prefer if it was one paragraph so it took up a bit less vertical space. I'm glad you dropped the capitals.

MortgageMamma, of course there are limits and times to refuse. If someone says they are self-employed, refuses to say for how long and asks for cheapest, I don't see too much problem with replying on the basis of those facts, noting the basis for the comment and most critical missing information and strongly suggesting consulting an expert to fully assess the situation. If it turns out that they became self employed yesterday, well, they could usefully have answered your question about how long they have been self-employed...

I like perfection and strive for it myself but the context here is discussion and it's OK to be a little imperfect in discussion.

Of course, you're the regulated mortgage advisor and you have to decide where your personal risk threshold falls in any particular discussion. I like your new signature as well.

donstonh, some of those PIA comments are worrying, for they appear to lead to the very unhelpful situation where everyone but the experts can be providing some types of information. Doesn't sound responsible to me for the FSA to seek to eliminate the informed comment and leave only the uninformed. Your signature appears good though I'd prefer it if it was a single paragraph, to reduce the vertical space use.

dunstonh

donstonh, some of those PIA comments are worrying, for they appear to lead to the very unhelpful situation where everyone but the experts can be providing some types of information. Doesn't sound responsible to me for the FSA to seek to eliminate the informed comment and leave only the uninformed.

No. They were great about it really. They said it was good to have discussion and it should be encouraged. What they didnt want though was people using it as a way to generate business without following the rules.

jamesd

Dunstonh, so long as they don't go too far. I can see a fair number of situations where naming products and giving general comments about them and where they are often suitable is helpful education, subject to discussion only and seek specific guidance caveats.

Good to hear that you can say they were great about it, though. Can't have been the most comfortable of times and I'm glad they left you fairly happy overall - you seem like one of the good guys.

MortgageMamma

have we decided exactly what we are going to use for signatures yet? I know we have agreed on non company disclosure but there doesn't seem to be any agreement on wording? I though we were all going to have the same signatures?

herbiesjp

MortgageMamma wrote:

have we decided exactly what we are going to use for signatures yet? I know we have agreed on non company disclosure but there doesn't seem to be any agreement on wording? I though we were all going to have the same signatures?

I think it's still in the discussion stage MM.

Once we are all happy and MArtin is happy I think then we'll all change;)

MortgageMamma

Just a thought - what do people think about removed the home will be reposessed bit - I don't really feel its necessary as we are not posting in official capacity just with a "duty of care"

dunstonh

If you arent mentioning specific mortgages then you dont need the "home will be reposessed" bit. If you start mentioning products/providers then you ought to have it.

MortgageMamma

the way the mortgages and endowments board works its difficult to get away with not naming lenders. damned if you do and damned if you dont.

ctabuk

I goofed yesterday and I apologise, is mine OK now? Thanks David