View more on these topics

FSA sends out warning over mortgage firm

The Financial Services Authority has issued a consumer warning about The Financial Associate Limited of Sidcup, Kent.

The FSA says customers who have taken out a mortgage with the firm, or are in the process of doing so should check that the mortgage advance is for the amount they applied for in their original mortgage application.

It also advises them to check whether they have received policy statements or correspondence from life insurance companies about life cover they do not remember applying for.

The warning says:“The FSA has reason to believe that Mr Charalambous, the firm’s director and adviser, has on at least one occasion applied for a mortgage on behalf of a client. The mortgage advance applied for was in excess of the client’s requirements and the mortgage advance was not paid to the client. At the same time as applying for mortgages for his clients, Mr Charalambous may have applied for life assurance policies without his clients’ knowledge or consent.”


Recommended

Woolwich pledges to improve funds system

Woolwich has vowed to work with brokers to improve its fund booking service and overcome delays on getting through to its funding desk.

Claims business not as easy as it looks, says expert

Carl Wright, director of Cartel Client Review, says inexperienced firms looking to cash in on claims management are coming unstuck because they don’t have the appropriate legal knowledge.

Dubai

White paper — Dubai International Insights

Jelf Employee Benefits discusses the legislative changes in Dubai, available medical facilities and policy considerations for employers with expatriate workforces in the country. This edition will be of particular interest to global human resource directors, compensation and benefits specialists and mobility managers who have employee populations in Dubai, or are considering operating there in the near future.

Newsletter

News and expert analysis straight to your inbox

Sign up