Tuesday, October 20, 2009

FSA will not apply RDR to mortgage market | News | Money Marketing

FSA will not apply RDR to mortgage market | News | Money Marketing: "“The characteristics of mortgages can be compared in advance and do not rely to the same degree on inherently uncertain judgments about the relative rates of return and risks from investing in different assets.”"


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Dear me. Should all advisers whether they be investment, mortgage, protection or insurance intermediaries be required to complete a full fact-find? If so don't they need to know a little about everything they may come up against? When I was an IFA mortgage affordability was a complex issue involving all my client's affairs, all pensions and savings were taken into account as were their unsecured debts. If a client had a duff investment I would recommend using that money to reduce the mortgage requirement or pay off other more expensive debts. The FSA should treat carefully with the mortgage regulation changes passed down to it by HM Treasury this week.

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