The FSA says it is not blocking self-employed and contract workers from getting a mortgage by banning self-cert products.
Advisers today branded proposals to effectively ban self-certification mortgages "inappropriate", saying they will leave the self-employed unable to access the mortgage market.
The FSA has banned Walthamstow-based mortgage adviser Ashfaq Ahmed for submitting mortgage applications on his own behalf that were based on false and misleading information about his income.
The FSA has publicly censured Doncaster-based broker Mortgages Remortgages for exposing up to 80 of its customers to the risk of being sold an unsuitable self-certified mortgage.
Claims management firm Cartel Client Review has warned that the misselling of self-certification mortgages is set to spark the next wave of controversy in the financial services arena.
Bank of Scotland (BoS) and BM Solutions have pulled their entire range of new business self-certification products.
The FSA has fined Nottingham mortgage broking firm Gillen Farrelly Independent Advisers £17,500 for failing to ensure it provided suitable advice which exposed over 80 customers to the risk of being sold an unsuitable self-certified mortgage.
Two directors of a mortgage brokerage have been fined a total of £60,000 for failures in self-cert mortgage sales, which could have led to fraud.
The FSA has censured Coventry-based mortgage broker, Mr Mohammed Habib, for failing to ensure his customers received suitable advice.
The FSA has fined a Chepstow mortgage broker £10,500 for failures in the sales process he used for self-certification mortgages.
IFAonline.co.uk has been inundated with comments on mortgage dual-pricing over the last few months. In response to requests from our readers, we are launching a campaign on the issue with a view to making the FSA listen properly to advisers' and brokers'...
All Types of Mortgages is to begin distributing a high-LTV self-cert mortgage from Kensington it was announced today.
Mortgages Plc is to withdraw its self-certified facility for employed mortgage applicants it was announced today.
Bradford & Bingley's announcement it has stopped selling competitors' mortgages through its 200-plus high street branches still makes business sense despite recent rises in the key base rate of interest, the lender says.
Kensington Mortgages has announced it is to launch into the second charge loan market.
The number of self-employed people has risen rapidly in recent years, and there are now well over three million people working for themselves in the UK.
Distributor Openwork has expressed concerns that mortgage lenders are not always consistent in their underwriting and processing of self-certification cases.
The Financial Services Authority (FSA) has reported a mixed result following the completion of its research and mystery shopping work on self-certification mortgages.
The Financial Services Authority has uncovered evidence suggesting mortgage brokers encourage their clients to lie on sub-prime mortgage applications.
Mortgage lenders have been told in a letter from the FSA there is little evidence of abuse of self-certification mortgage applicants as firms have good controls to prevent against fraud.
My client is employed as a hairdresser and a substantial part of his income comprises tips. He is a first-time buyer with a reasonable deposit, but wants as high a loan to value as possible. What are his options?
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