Brokers fined £100,000 for failures


Two directors of a mortgage brokerage have been fined a total of £60,000 for failures in self-cert mortgage sales, which could have led to fraud.

A third broker has been fined £34,500 for exposing over 900 customers to the risk of being sold an unsuitable mortgage The FSA has fined William John Evans and Gary Howes £30,000 each for various failings at their business, Abbey Mortgage Limited. The pair were found to have made a number of errors in relation to self-certified mortgages between June 2006 and June 2007. They failed to check whether customers had provided accurate income information, nor did they ensure the mortgages recommended were affordable or suitable for their customers. Failure to properly check income information...

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