FSA censures mortgage broker for advertising breach

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The FSA has published a public censure of PB Roberts Limited for poor record keeping and publishing unclear advertising material.

The Liverpool-based mortgage broker failed to demonstrate why it had recommended certain mortgages. The firm also failed to show that it had offered customers the cheapest deal available to them, despite many of its customers being in the sub-prime and self-certified market. Margret Cole, director of enforcement at the FSA, says: "PB Roberts Ltd placed its customers at risk and this is particularly serious when some of them were vulnerable consumers who had adverse credit histories or were trying to consolidate debts." The firm also ignored previous warnings from the FSA regarding adve...

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