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Broker Talkback

Is the FSA doing enough to combat phoenixing in the mortgage market?

No 100%

No “I don’t believe they are doing enough. They’ve got to find some way of stopping it as it doesn’t feel fair to the rest of us who’ll end up picking up the tab.”

Gavin Hathaway, Gavin Hathaway Investment Services

No “Half of this trouble we are in stems from regulation. It is frustrating for IFAs who do things properly”

Peter Dickinson, Elmfield Financial Planning

No “It is very unlikely they are doing enough if the banking sector is anything to go by. They just like to create paperwork and stifle our business.”

Peter Serlin, Oakwood

No “They will not learn lessons where they have failed. The FSA is issuing plenty of firms with fines. It is bad business practice”

Paul White, Belgravia Insurance Consultants

No “It is not fair because we all work hard and have to meet criteria and they are just not meeting them. This sort of thing is not good for the industry’s reputation with the consumer”

Julie Bayley, Keswick IFA

“If it’s being done to avoid liabilities, there have to be more questions around whether they should be operating as a regulated firm”

John Burridge, Quantum Mortgage Brokers

No “I am concerned that the practice could lead to increased pressure on the FSCS if firms started trying to offload misselling claims liabilities”

Sean Murphy, Hillyer McKeown

No “The FSA should stop firms’ coming back in different guises”

Graeme Mitchell, Lowland Financial structured products

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