Mortgage regulation has prompted little dramatic change in consumers' perception of the mortgage market, but negative feelings remain about advisers' behaviour, according to the Council of Mortgage Lenders.
A CML survey of 1,373 adults who took out a mortgage in the previous 12 months found respondents who agreed mortgage advisers "often encourage you to borrow more than you should” rose from 10% to 11%, while those who felt “they clearly tell you what effect interest rate changes will have when you borrow” rose to just 22% from 17%. In addition, those who agreed mortgage advisers “generally provide clear and fair product information” rose from 43% to 48%, “they are professional and take your needs into account” rose from 31% to 40%, and “they often try to sell you extras you don’t want” fel...
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