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Mortgage Strategy e-petition gains over 100 signatures

Mortgage Strategy’s e-petition has gained over 100 signatures in just three days.

The government e-petition, launched as part of our Make Claims Firms pay campaign, went live earlier this week and has already gained the support of over 100 people in the industry.

Our petition says that claims firms should be forced to pay a £500 fee to the Financial Ombudsman Service for every claim of mis-selling against a broker or financial adviser that is deemed to be without merit.

Now, Mortgage Strategy is calling upon its readers to spread the word through Twitter, Facebook and word of mouth in order to bring us closer to our goal of 100,000 signatures, which would see the petition considered for debate in the House of Commons.

The campaign is gaining momentum as the industry gets behind it, but we can’t do it all on our own – we need your help.

So tell your colleagues, BDMs and everyone you know in the industry to sign our petition and make claims firms pay.



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  • Lorraine 26th September 2011 at 2:00 pm

    How many brokers were happy to send clients to Cartel and make money out of them?

    Hypocritical much?

  • Lorraine 25th September 2011 at 11:22 am

    It’s also ridiculous to expect disgruntled client that lost out at the hands of Carl Wright to sign this petition.

    Cartel charged upfront for unenforceable credit agreements – nothing to do with PPI. To ask those clients to sign this petition makes a mockery out of what you’re trying to achieve. Similar to making your mum, family & friends sign the petition for you.

    Also – might I point out that there were plenty of brokers that signed up with Cartel and were happy to make money out of their clients. Some even signed up as master brokers at the cost of £5,000. But just because things didn’t go right you’re now pointing the finger at the whole industry. Take some responsibility!

  • Lorraine 25th September 2011 at 11:17 am

    Get friends and family to sign it? In other words – ask your mum? How ridiculous.

    This is a regulatory issue. Why hasn’t anyone commented on the fact that CMCs pay an annual fee to the Ministry of Justice. They are there to regulate the industry – so why not ask them to step in here instead of launching a witch hunt which may have some effect but may also prevent valid claims being put forward because I predict that any potential £500 fee would be put in the lap of the client. The result – the client won’t risk putting a claim forward. CMCs generally work on a ‘no win no fee’ basis. This £500 fee could put an end to that – what then?

    This will do more harm than good.

  • Luke Atkinson 23rd September 2011 at 12:05 pm

    Mortgage Strategy, why is there no link or mention of this on Money Marketing?

    Surely this concerns the IFA community too?

  • Luke Atkinson 23rd September 2011 at 12:01 pm

    I agree and I have and I hope we get to the 100,000!

  • Nick 22nd September 2011 at 9:33 pm

    Luke – so why not speak to your family and friends and get them to sign the petition too? If everyone does the same thing it could be up to 100,000 in no time

  • Zebedy 22nd September 2011 at 7:42 pm

    But if every broker emailed every client then i imagine that 100k would be quite easily reachable. I am sure that most brokers have more than 10 clients. When Cartel Cleint review went down it was rumoured the company had nearly 300,000 customers and that Carl Wright took £20M with him when the company fell. I am sure that there would be a few out of pocket customers that would be itching to sign the petition.

  • Luke Atkinson 22nd September 2011 at 5:09 pm

    I’ve signed the petition but even if every broker in the UK signs it, we will be 90,000 short.

    The FOS will never charge consumers or amubulance chasers. Its a nice thought though.

  • Moneyman 22nd September 2011 at 4:07 pm

    FOS – Charge these firms the same as you charge Brokers. That should help get rid of the speculative “rubbish” claims, which wastes everybodies time !

  • Alistair J Duffy 22nd September 2011 at 3:13 pm

    A lot of these people just make complaints on speculation with out any thought to the merit of the complaint.

  • Brian Mclean 22nd September 2011 at 2:36 pm

    It is that good and growing that fast you are having to advertise it again. Will never work in law as consumers are protected under various laws and claims companies only act on the information supplied to them. MOJ is similar to FSA in the industry.