Mortgage broker fined £10,500

Last year’s FSA sub-prime mortgage market advertising review found the Swindon-based company conducted poor financial promotions and inadequate sales processes in relation to general mortgage sales, not just sub-prime. The regulator says Select customers “did not receive reliable information to help them make informed choices and achieve a fair deal”, after it failed to ensure its financial promotions accurately described its Capital Repayment Plan (CRP). It also found the company had inadequate sales processes in place for recommending mortgages and inappropriate management systems and ...