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Mortgage suitability and responsible lending

"... it is vital to ensure that lenders and borrowers act responsibly - prudent lending should be the norm..."

FSA

Retail Distribution Review
Mortgage suitability
Complaint handling and
root-cause analysis
Product governance
Skilled person reports
Investment suitability
Packaged accounts

 

One of the most pressing issues for lenders and intermediaries in the coming years is mortgage suitability and responsible lending. The FSA has indicated the size of the challenge in its 575 page consultation paper CP11/31 – the mortgage market review.

Firms’ focus:

  • Enhanced systems and controls around mortgage suitability
  • Adequacy of responsible lending policy
  • How affordability is assessed, evidenced and monitored
  • Known areas of risk e.g. lending into retirement
  • Quality of management information.

We work with lenders across the mortgage market with current insight into building major mortgage remediation programmes and rigorous mortgage suitability assessments. Through our industry engagement and close dialogue with the FSA, we are well positioned to ensure firms stand up to the challenge set by the regulator now.

  

 Latest Consulting blog articles

Parting is such sweet sorrow: what to do if you’re no longer relationship managed by the regulator - Published 31-May-2012
An edition of this article was first published by Thomson Reuters GRC. © Thomson Reuters by Paul Scott, Director of Consulting at Huntswood Two regulators, both alike in dignity, in fair London where we lay our scene: from ancient grudge of mis-selling scandals, where retail firms cause retail customers detriment. Shakespeare’s works and retail banking [...]

UK appetite for packaged accounts: weighing up risks for firms - Published 04-May-2012
Originally published by Thomson Reuters GRC. © Thomson Reuters. by Paul Scott, Director of Consulting at Huntswood The double-digit growth rates demonstrated by well-known fast food chains in recent years are a tell-tale sign of the popularity of convenience eating in the UK. The population appears more than happy to buy mass-produced, low-nutrition, appealingly packaged [...]

Clean up claims firms but they have a role to play - Published 24-Apr-2012
Written by John Howard who is a special adviser to Huntswood and former chair of the Financial Services Consumer Panel. First published by MoneyMarketing.com on 24th April 2012. How many emails, texts and phone calls have you received today from Claims Management Companies promising you compensation for dodgy loan insurance cover?  This aggravating blight on [...]
 
 
 
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