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FSA issues warning to mortgage lenders
Mon, 01 Dec 2008
The Financial Services Authority has written to mortgage lenders warning them about the way they treat customers in arrears .

According to Jon Pain, retail managing director at the body, the mortgage market is tough at the moment and this makes it even more vital that people are dealt with in a suitable manner.

He said: "In such a challenging operating environment it is particularly important for senior management to ensure the fair treatment of customers, including when they go into arrears."

The FSA will continue to push for the proper handling of all mortgage customers throughout 2009.

Mr Pain added that it could use enforcement action to deal with mortgage lenders if the FSA believes them to be operating in an improper manner.

Last week, Barney McCarthy, editor at YourMortgage.co.uk, stated that the mortgage market has been too good to be true in the last few years and is now getting back to normal.

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