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PIA Consumer Panel wants mortgages directly regulated

The PIA consumer panel has warned the Government that it is making a mistake by not including mortgage regulation in the draft Financial Services and Markets Bill.


The panel says that the complexity and range of mortgages available makes it easy for product providers to missell.


It says that because mortgages are the biggest purchases consumers ever make they need to feel confident that providers are subject to strict regulatory procedures.


It also says it is concerned that there is no formal body for consumers to make an official mortgage complaint to.

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