Mortgage Advice

An insurer must appropriately manage and process maturity claims on assigned endowment policies and pay reasonable late payment interest when maturity proceeds are delayed.

A mortgage broker must take reasonable steps to process urgent product change requests within contractual deadlines, and must ensure adequate out-of-office coverage for time-sensitive matters.

A lender should not pay disputed service charges to protect its security on a leasehold property unless forfeiture of the lease is a genuine and imminent risk, evidenced by court determination of a breach.

A mortgage advisor must promptly notify a client of a declined application so the client can make timely decisions about alternative options.

A mortgage lender is not obliged to amend a mortgage offer based on information uploaded by a broker after the application, provided the offer clearly sets out conditions for solicitors to address and the lender responds promptly when solic

A lender is entitled to rely on a suitably qualified surveyor's valuation report when deciding whether to lend on a property, provided the valuation is carried out as part of a regulated mortgage activity.

Mortgage lenders must complete a proper affordability assessment using accurate income and expenditure figures and appropriate stress testing before approving a mortgage application.

A mortgage protection insurance policy that was a condition of lending at the time of sale does not render the policy automatically mis-sold, even if not presented as optional.

A mortgage adviser must recommend a product suitable for the consumer's stated needs, including any intended use of the property such as holiday letting.

A mortgage broker's role is to recommend suitable arrangements based on the customer's needs, not to pre-emptively contact lenders to seek permission or to present all possible options.

A mortgage adviser must not recommend a bridging loan as a solution to obtain funds when the adviser has represented that an equity release mortgage would be available as a repayment option, if that representation was not adequately support

A policyholder bears responsibility for ensuring the accuracy of health information provided in an insurance application, even if answers are given by another person on their behalf, provided they receive notice of the information and oppor

A lender is entitled to set its own lending policies and LTV thresholds for different property types, and may treat a joint-to-sole mortgage remortgage as new lending requiring reassessment against current policy.

A lender is not obliged to proactively offer alternative mortgage products; consumers must take the initiative to contact the lender to discuss options after an application is declined.

Mortgage brokers have no regulatory duty to advise on property condition or recommend a survey where the applicant is aware the lender instructed only a desktop valuation.

A lender is entitled to apply its lending criteria consistently and decline a mortgage application where the borrower does not meet those criteria, even if a decision in principle was previously issued.

A consumer who accepts an uphold and redress offer for mis-sale cannot subsequently challenge the calculation or complain about policy performance if they choose to retain the policy.