FSA calls for simplified "key facts" documents

March 2005
Credit Control;2005, Vol. 26 Issue 3, p54
Trade Publication
The article reports that Great Britain's Financial Services Authority (FSA) has asked all mortgage lenders in the country to simplify the "key facts" documents that they provide to consumers at the point of sale. The overhaul will add to the confusion that has surrounded mortgage regulation since it was introduced six months ago. Some lenders were forced to abandon lending altogether for a period while they wrestled with getting their systems in order for the new regime. An FSA spokesman said that over-complicating the documents defeated their object of informing consumers about their home loans.


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