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Poll: How concerned are you about the resurrection of execution-only mortgage sales?
The Financial Conduct Authority (FCA) has proposed a relaxation of mortgage advice rules that would enable more cases to be completed by execution-only—potentially as many as 30 per cent more.
This could have significant impact on broker and borrower outcomes, particularly given that FCA research showed that borrowers do not understand the protections they lose or retain with this method.
However, the FCA contends that an execution-only process is no riskier than an advised one and that borrowers could save million of pounds as a result.
So this week, Mortgage Solutions is asking, how concerned are you by the potential resurrection of execution-only sales as a real force in the mortgage market?
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