The Financial Conduct Authority (FCA) wants to clarify its rules on payment shortfalls after it detected some lenders were not behaving in the way the Mortgage Market Review (MMR) intended.
The regulator wants to ensure fees from payment shortfalls are used to pay off debt balances rather than interest or charges. A payment shortfall is the outstanding amount measured against the amount...
‘Gareth Southgate Wealth Management’
Questions raised over govt role in dashboard
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