The Consumers' Association has launched a fresh attack on financial advisers as its own research suggests only three out of 39 mortgage "gave acceptable advice".
A mystery shopping exercise conducted by the CA – and published today in the latest Which? Report suggests advisers are failing to inform consumers about the mortgage code and the various ways to repay a mortgage while others are accused of presenting misleading information. Seven CA researchers posed as first time buyers and visited 39 banks, building societies and estate agents – including Abbey, Barclays, Bradford & Bingley, Connells, Halifax, HSBC, Lloyds TSB, Mann Countrywide, NatWest, Nationwide, Northern Rock, Sequence, Spicerhaart, Team and Your Move, and seven independent estate...
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