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Talkback

Is mortgage regulation a good thing for consumers?

“No it won’t be.All regulation has done is add to the reams of paperwork that consumers are given and they will not read it but the cost of it will be passed to them.”
Paul Lynas,Paul Lynas Associates

“I don’t think it will make a blind bit of difference. We are just being asked to do in a prescribed manner what any professional adviser does anyway, but now the cost of mortgages will be driven up.”
Rebekah Zoob Kearey, Roundhill Financial Management

“It makes sense to have all the regulation under one roof. I don’t think that consumers will be any better off or worse off.”
Mike Lunan,MJ Lunan

“Looking at the amount of paperwork that we have to do now, I think it is going to add to time and cost. It is a bit of a nonsense.”
Ronald Paterson,Ronald B Paterson & Co.

“Yes, overall, I think they will be. It will give them a clearer idea of what they are paying for and what advice they are getting.”
Clifford Northwood, Tiffanys Independent Financial Services

“No. I think regulation will make good brokers better but will only get rid of a few of the poorer ones.”
Chris Rainbird,Rainbird & Co

“Yes and no – the products will be more expensive but there will be more protection for consumers.”
Nick Crowe,NP Crowe & Associates

“I don’t think it will make much difference to the consumer – it won’t protect them particularly.”
Michael Griffin,Griffin Financial Services

Yes 13%
No 75%
Don’t know 12%

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