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Non-conforming ad rules

Lenders and intermediaries advertising non-conforming mortgages will face new rules on advertisements and financial promotions if FSA proposals for regulations are implemented, writes Ben Stafford.

As well as laying down its approach to “qualifying credit promotions” including brochures, advertisements, websites and telesales calls, the regulator says that though most lenders opposed further requirements “considerable numbers also supported specific requirements in relation to impaired credit advertising”.

The FSA claims those lenders in favour of further rules identified the vulnerability of the target audience or the &#39reputational impact &#39 of malpractice in the sector.

Plans drawn up by the regulator include the requirement that APR charges must be given in any circumstance when the borrower&#39s circumstances limit their choice of lender.

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