FSA outlines mortgage approach

Priorities identified include financial promotions, product disclosure, lifetime mortgages, regulatory returns, as well as taking stock of additional information obtained through the authorisation process. A particular focus will be on identifying those operating in contravention of the new regime on the so-called “perimeter”, doing unauthorised business. Lifetime mortgages, sub-prime lending and debt consolidation are considered higher risk areas, which also merit the regulator’s attention. ”We will be visiting some firms to review their marketing strategies in these product areas...