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‘Brokers already use duty of care with clients or they’d be out of business’ – Star Letter 26/04/2019

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  • 26/04/2019
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‘Brokers already use duty of care with clients or they’d be out of business’ – Star Letter 26/04/2019
Each week Mortgage Solutions and its sister title Specialist Lending Solutions select the most thoughtful or thought-provoking comments from our readers in our Star letter.

 

This week’s top comment came from Terry Arch, with his response to the article: FCA to consider allowing private legal action against firms which break principles.

Arch said: “I think I will change from being a mortgage broker to a claims management company.

“[This is] another flood gate opened. It looks as though the Financial Conduct Authority (FCA) wants to open the door to all and sundry who fancy a pop at the financial services industry.

“I am sure that most brokers actually use a duty of care with their clients, otherwise they would be out of business as most business comes from referrals.”

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