View more on these topics

FSA and advisers both have their shortcomings

The seemingly endless procession of individuals disciplined by the Financial Services Authority suggests that high moral scruples may not be inherent within all those that the FSA approved on Mortgage Day.

I doubt it was the case that all the individuals banned or given a fine were merely disciplined because they’d made genuine, accidental mistakes. So it follows that an element of dishonesty or unlawfulness was likely to have been a factor in the enforcement action.

I’m afraid we need to take FSA chief executive Hector Sants’ recent criticism of advisers on the chin. Conversely, the FSA needs to acknowledge that the approval process for individuals was not without its shortcomings.

If both parties would simply agree on this, we could all get on with the job of finding a better way for the future.

Mark Ehlinger

Focus Solutions


Gloom as repossessions and arrears soar with worse to come

The Financial Services Authority has revealed a sharp rise in mortgage arrears and repossessions.The regulator issued the grim findings last week, showing that at the end of Q4 2008 there were 377,000 mortgages in arrears, an increase of 36,000 since Q3 2008 and a 31% year-on-year increase.New repossessions for 2008 increased by a staggering 68%, […]

Tony Ward calls for high LTV guarantees

Tony Ward, chief executive of Home Funding, is calling on the government to attach guarantees to all UK mortgage lending between 75% and 95% LTVs.


News and expert analysis straight to your inbox

Sign up