Association of Mortgage Intermediaries policy officer Ben Stafford says there are concerns with the amount of paperwork being given to customers.
The single consistent issue being brought up by intermediaries according to Stafford is the consumer may be “weighed down” with paper IDDs, KFIs and additional specific paperwork.
Although Stafford applauds the positive affect this will have on the industry, several brokers have been voicing their concerns.
Stafford says: “It is important for firms to produce the documents and consumers need to know the key components of their mortgages. But is important this is seen as a positive impact on consumers.”