DeAnne Julius, the Bank of England economist and head of the Treasury review into Banking, has welcomed the Government decision to adopt her recommendation to regulate mortgage advice.
DeAnne Julius says: "I am delighted with the Government's decision to regulate mortgage advice. This was supported unanimously by our Review Group, because we felt it would help both consumer and mortgage providers. I am also pleased that the banks have agreed to take on board the majority of our recommendations for changes in their self-regulatory codes. With the new cleaner process for code review I am hopeful that in due course those changes they have not yet accepted will also find favour."