Over the past three years there has been a marked rise in the number of mortgage brokers under the watchful eye of the UK’s financial regulator, the Financial Services Authority, with a rising number of brokers being fined for malpractice and mis-selling. The FSA has been cracking down particularly hard over the past year as a result of the chaos and turbulence that has gripped the financial, mortgage, and housing sectors since the onset of the global credit crunch. (more…)
Posts Tagged ‘mortgage brokers’
Rise in number of dodgy mortgage brokers
Friday, November 21st, 2008
Should brokers have access to all mortgage deals?
Wednesday, May 21st, 2008One of the traditional ways of finding a suitable mortgage for many people in the UK over recent years has been to go through a broker. Many people who were keen to find the most competitive deal tended to avoid gong from one lender to another in order to browse and compare deals, and get a broker to do the legwork for them, which often saved them time and money. However, in the dark days of the global credit crunch there are many consumers that may find themselves missing out if they go through a broker, and this is something that the mortgage broker industry is not happy about. (more…)
Should those with bad credit be relying on mortgage brokers?
Saturday, April 12th, 2008A recent report indicated that many consumers with poor credit were becoming increasingly reliant upon mortgage brokers in order to find them a suitable mortgage deal, with many assuming that they will not be able to find a mortgage on their own due to their credit. Whilst it is more difficult to find a suitable mortgage if you have bad credit, particularly in the current financial climate, authorities are concerned that some may be a little too reliant on mortgage brokers. (more…)