Treasury mortgage review criticised - papers 12 August

The IFA industry fears that the Treasury's proposals for mortgage re-regulation will simply push a large number of low-quality mortgage brokers into the unregulated market, The Daily Telegraph says. It quotes IFA Charcol as saying more people are likely to be attracted to home reversion schemes, but that the regulations proposed will not cover this business area, so will leave consumers without the regulatory cover they are likely to need. Such schemes are deemed to be contracts to sell, the paper says, meaning the Treasury left it off the list of products to be regulated. ...