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FSA must name and shame, says Which?

Which? says the Financial Services Authority should name and shame lenders that won’t put a stop to increasing mortgage exit administration fees.

This follows the regulator’s pledge to investigate lenders who increase their mortgage exit administration fees beyond that originally quoted to the customer.

Emma Bandey, personal finance campaigner at Which?, says: “Which? welcomes the work the FSA has done to put a stop to ever-increasing mortgage exit administration fees.

“We now urge consumers to challenge their provider if they feel they have paid more than they originally agreed in their mortgage contract.

“In a similar vein to unauthorised overdraft charges, these fees should only represent the administration costs involved.

“They should not be endlessly escalating, arbitrary figures and lenders must be able to justify them.

“The next step for the FSA is to name and shame those that won’t comply.”


A different way of ranking networks

For some time, intermediaries and lenders have been asking when a table will be printed that looks at all networks rather than just the ones that have mortgage and protection authorisation from the regulator.

Networks should be offering HIP services

The latest report from the Financial Services Authority found that over three-quarters of the smaller mortgage firms it investigated did not have robust processes in place, leading to the risk of clients being given unsuitable advice.

Inspector Morse effect boosts prices in Oxford

House prices in Oxford have outstripped the regional and national average since the television series Inspector Morse first aired 20 years ago, research reveals.

Reduce exit fees, says has called for exit fees to be reduced, following the Financial Services Authoritys call for exit fee transparency.Louise Cuming, head of mortgages at, says: Since the FSA called for more transparency on exit fees back in June, lenders have failed to respond. Indeed, the only real movement within the existing market to date […]


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