The FSA is considering limiting the role brokers play in assessing customers' affordability by simplifying the criteria they currently use.
Speaking at the 2010 Mortgage Expo this week, FSA director of conduct policy Sheila Nicoll said the Mortgage Market Review (MMR) could reduce an intermediary's role to checking whether the customer fits within the lenders' affordability criteria. Her comment come ahead of an MMR consultation paper on distribution and disclosure. Nicoll said: "We understand that an intermediary will need, at point of sale, some degree of comfort about whether the lender will agree the mortgage. It would not be in the customer's best interests for the intermediary to put them forward for a product for w...
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