 A review from the Financial Services Authority has found that firms are still drafting unfair contract terms, directly going against the principle of Treating Customers Fairly.
Over half of the contracts reviewed by the FSA contained at least one variation term, which allows firms to impose changes without prior or express agreement from the customer.
The FSA has issued a report today which serves as a reminder to firms that contract terms are key to the fair treatment of customers. |
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 Most mortgage professionals are not thinking about TCF in the run up to the December deadline.
The latest research carried out by Pink Home Loans has revealed that 59% of mortgage professional are not thinking about what they need to do to prepare for the end of the year. This is not really surprising given the credit crunch.
As Kay Leslie, network services director at Pink said: “Current challenges facing the mortgage market has led to many intermediaries focusing solely on maintaining income levels rather than what they need to be doing in order to meet December’s TCF deadline. However, there are number of important reasons as to why they should continue to embed TCF principles into their business.”
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