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Full Monty aims to lay bare loan rip-offs

Former mortgage regulator Monty Burn is launching a new advice firm backed by a video called Salesperson in a Box, which he claims will stop consumers being ripped off.

Burn says his firm, Mortgage Watchdog, will process applications referred from unqualified brokers who he claims will not have to register with the MCCB, worry about compliance or pay for professional indemnity cover.

He says brokers using his “Full Monty Experience” video can offer borrowers advice and a recommendation under the umbrella of his firm. The information in his free video for use by brokers and consumers includes 10 key questions which should be asked when applying for a mortgage which he says will “break the mould of rip-off advisers and create a new and positive image”.

Burn says: “The only way to ensure every consumer taking out a mortgage knows the right questions to ask to make an informed decision is to inform them by video or DVD. There must be nationwide consistency, with the information provided by advisers.”

MCCB spokesman Brad Baker says: “A video will not replace face-to-face advice, which more and more customers want.”

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