Take level 4 advice exams before the FCA steps in – Bob Hunt
I think this is definitely the way to go Bob and welcome the new CII exam offering. I have CF6 and am going to sit R07 within the next 3 months, however, there is also the small matter of passing R01 (which I sat as part of my studies for the Diploma in Financial Planning) in order to obtain the full new mortgage qualification.
I passed R01 at first sitting, however, it is by no means an easy exam and I have spoken to several experienced advisers who failed this, so advisers should not take this lightly.
Paul
Mortgage industry must ‘stop selling life cover only’
Really? As if we don’t try to arrange CIC with life!? We are constantly met with “it won’t happen to me”, “we can’t afford it” etc etc. If we push, we are told we are only interested in the commission. If we try to arrange a level term policy with a repayment mortgage, we are told by compliance that we are over selling!
Seriously, all these people that constantly tell us what we should and shouldn’t do, should try actually spending a day arranging mortgages and protection and they will then discover how indifferent the great unwashed are…
Good Mortgage Man
Buy-to-let gone bad: five hallmarks of a bad landlord
I think some of those comments should be taken with a pinch of salt. I have several rental properties let to people in their early 20s. On several occasions I’ve had outgoing tenants argue about very reasonable deductions including a set saying that beige blinds and curtains covered in red wine and tomato ketchup stains were not their fault and standard wear and tear.
This was the result of a drunken food fight. It went to arbitration and my claim was upheld but they remain adamant to this day that I shouldn’t have charged them for cleaning and replacing those blinds!
Steve
Nationwide, Skipton and Coventry enter two-year fix price war
Rates are only one part of the mortgage solution. Post-MMR, the mortgage application process has become unspeakably slow and appalling stressful. Lenders provide lamentably poor communication. Most appear to have no standards for responding to applicants at different stages of the process in a timely and comprehensible manner.
The process itself is completely opaque for the average borrower. Decisions in principle are worth little or nothing. Case trackers fail to provide meaningful information and are of historical value only. Any lender that steps up to the plate with guaranteed service standards for applicants can rise above the rate war. Building societies should be leading the charge.
Are any of you willing to go beyond mission statement platitudes about customer service and put sound practice and effective standards in place?
Nina Cooper
Thank you for your comments this week
