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nullnullnullnullcustomers around null per cent
will be in arrears alreadynullwhich means but there nullobably are still some that
around nullnullnull customers are being need to be reminded onulltheir duty to
unfairly charged each month.
David Sheppard
borrowersnullInullthis hanullens then brokers
nulle nullnullruling against nullnull
managing director
should not need to nullctor in nulltential
last yearnulland details in its latest nullnull Perception nullnance arrears handling small nullint when
effectively means that theoretically all ginullng adnullcenull
other nullMnull customers that have gone It is good to see that the nullnullare nulle anullronulld nullrsons regime is
into arrears since nullnull could also be identinulling where the issues are in the definitely in need onullchangenullIt was
eligible for a refund. mortgage market and this Consultation understandable that when the nullnull
nullisnullas you can imaginenullcreates Panullr does make sense on both the took on mortgage regulation that they
a problem. nullt only for the lenders issue onullarrears handling and the did not see the need to hanull indinulldual
concerned but also nullnull nulld anullronulld nullrson regimenull registrations similar to the Inullnullindustry
null 20 nullr cent will be in arrears already, which means around null,000 cus tomers are being unnullirly
nullom a brokernulls nullrsnullctinull, the but, with lessons learnt, it is now the
arrears nulllicy onulla lender is not always time to do sonull
charged each monthnull
a key consideration when determining nulldly, it is the nullw that hanull anullected
inulla lender is suitable or notnullnullat said the many here but we need to nullcus on
potentially for any introducing brokers. there hanull been times in the nullst the nullsitinulls that the industry can gain
nullet despite the fine against nullnullnull when it was imnullrtant to consider this nullom this changenull null the nullnullr suggests,
the nullnullremain tightlipped about how esnullcially nullr those that looked anuller this should make it imnullssible nullr rogue
much of a problem this represents. clients with enullsting debt issuesnull brokers to monull around howenullr it does
e completed our investigation into null nullen looking back at the days nullse the nullestion about how watertight
nullnull and published the results of that when the snullcialist lenders were the database will benull
casenull nullrris nullavinornullspokeswoman in abundance it was well known in nullere hanull been cases onullanullronulld
for the nullnancial nullrvices nullthoritynulltold the industry that these nullry lenders, nullrsons being banned who hanull had
Mortgage Introducer. whilst keen to helnullout those that had more than one name in recent times
e have made the point publicly null dinullculties elsewhere, were also nullster and although it will be hard to nullenullnt
that we have referred other lenders to to act on arrearsnullInullthis market enullr a determined nullaudster, there is a need
enforcement so other work is carrying returns then the adnullce nullocess should nullr the nullnullto look carenulllly at how the
on but we can’t talk about individual hanull greater regulation and scrutiny initial anullronulll nullocess works to keenull
firms. to ensure these clients are made nulllly those who hanull been banned starting unull
nullf there is evidence that a firm aware onulltheir obligations and the risks again using an aliasnull
is doing something wrong then we they are taking on by taking out a new nulle industry is now in an ongoing
investigate that firm and take action. mortgage esnullcially inullthey are with a nullocess onullchangenull nulle all hanull to
nullne of the reasons why we publish mainstream lender currentlynull embrace it as it will honullnulllly mean
enforcement cases is the message nulle key is ensuring that the nullnull that we hanull a better structure to grow
that it sends to everybody else in that renullirements are more snullcific and againnull nulle may not initially like what is
sector. nullery enforcement case is a that enullry nullssible onullion is enullausted nullonullsed but I belienull we will look back
warning and we have published two nullior to renullssessionnullnullr most lenders and anullreciate that it was necessary to
earlier reports that look specifically this, I belienull, is already the stance rebuild the renulltation onullour nullonullssionnull
at arrears handling which led to the
nullnull case. We published our findings
and the point of that is so lenders look
at what they are doing and ensure that
they are meeting our standards and
mortgage introducer MnullCnull2010
MI p20-25_0310.indd 5 23/02/2010 11:01
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