A shameful piece of regulation

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  • payless
    payless Posts: 6,957 Forumite
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    I am really surprised how many mortgage broker websites still refer to the Mortgage Code and call themsleves independent - but do not give any reference to "whole of market" or fee option - and no example Initial Disclosure Document to see
    Any posts on here are for information and discussion purposes only and shouldn't be seen as (financial) advice.
  • dunstonh
    dunstonh Posts: 116,252 Forumite
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    Watch a few of those get made of an example of.

    I think some of these mortgage companies underestimate what FSA regulation actually means.

    BTW, we now have IDDs on an interim style basis. I have to say that they are useless compared with the terms of business which they replaced. They look far more confusing when using a combined IDD.
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • payless
    payless Posts: 6,957 Forumite
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    they grow on you!

    agree they can seem confusing- all those unticked tick boxes !
    and not really the right format to explain a fee basis or what is meant by "whole of market"

    I use a default ( kept different products separate for more clarity) and issue personalised versions if arrangement differs to default version
    Any posts on here are for information and discussion purposes only and shouldn't be seen as (financial) advice.
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