Mortgagees forced to take advice
THE Financial Services Authority has published rules saying that home buyers must be given advice before being granted a mortgage, as opposed to simply being provided with the information to make the decision themselves.
The rules have been welcomed by the Peter Leadbeater, managing director of Dacre Son & Hartley Financial Services, part of Mortgage Advice Bureau.
He says: “We feel it essential that anyone contemplating taking out a mortgage should get advice, and we are delighted that this view has now been endorsed by the FSA.”
Dacre Son & Hartley Financial Services is an independent mortgage broker, meaning they can search the entire market for deals.