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The Derbyshire is ready for regulation

Tony Capon, head of intermediary mortgages at The Derbyshire, says: “We recognise that for many, preparing for regulation has been onerous and the costs of compliance will be high, but we believe this is a fair price to pay for regaining consumer trust in our industry.

“M-Day is all about making the marketplace a fairer place for consumers and stamping out unfair practice. We should look forward to regulation continuing to build the reputation of our industry and providing the consumer with more rigorous protection and professional service.

“The KFI will become a valuable tool of the trade for intermediaries, as they will be able to compare products on a like for like basis.”

The Derbyshire will be making &#39penny accurate&#39 KFIs available from its dedicated intermediary website. From October 31, The Derbyshire will only accept mortgage cases from FSA regulated mortgage intermediaries. Application forms and submission sheets are available from the website in downloadable pdf format.


PMPA concerned over contract confusion

At last week&#39s PMPA members meeting, concerns were raised about indemnity clauses in many of the lenders pre-Mortgage Day revised contracts. These were considered unworkable and unreasonable placing disproportionate business risk and potential financial burden on packagers where introducers fall outside of their scope of responsibility for the sales process. In many cases the indemnity […]

Sweet spots are a matter of trust

Jason Gardiner, managing director of House of Finance, says if handled carefully, the ‘sweet spot’ concept could help rebuild consumer trust in the financial services industry

High risk products may fall out of regulatory framework

Lisa Shenton, specialist in volume property services at Eversheds, says: “We&#39ve heard a lot about how the regulations will bring peace of mind for borrowers, but the reality is that some high risk products have been overlooked. “For example, buy-to-let mortgages and second charge lending are both categories of mortgages which fall outside the scope […]


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