Advisers today branded proposals to effectively ban self-certification mortgages "inappropriate", saying they will leave the self-employed unable to access the mortgage market.
In its Mortgage Market Review discussion paper, issued today, the regulator says lenders will require verification of income for all types of mortgage applications. Advisers say the proposal has been...
The FSA says it is not blocking self-employed and contract workers from getting a mortgage by banning self-cert products.
The FSA has banned Walthamstow-based mortgage adviser Ashfaq Ahmed for submitting mortgage applications on his own behalf that were based on false and misleading information about his income.
The FSA has publicly censured Doncaster-based broker Mortgages Remortgages for exposing up to 80 of its customers to the risk of being sold an unsuitable self-certified mortgage.
Claims management firm Cartel Client Review has warned that the misselling of self-certification mortgages is set to spark the next wave of controversy in the financial services arena.
Bank of Scotland (BoS) and BM Solutions have pulled their entire range of new business self-certification products.
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