News Details
17 May, 2007
Mystery Shopping - Mortgages
- No oral disclosure of IDD
- Failure to ask about existing secured loans
- Not asking about existing arrangements and early repayment charges applicable.
- Not asking how the capital on an interest-only mortgage is to be repaid
Firms should constantly be reviewing their sales activities as part of their SYSC arrangements. Issues identified as part of the monitoring program need to be fed into the training and development plans for staff.
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