MORTGAGE misselling HEALTHCHECK

Although far from a national pandemic, the incidence of alleged mortgage misselling is on the increase (see our section on Mortgage misselling).

The Telos Compliance service can offer pre-emptive warning of any risks through its Mortgage misselling Healthcheck service. We can review the existing systems and controls, ensuring that they meet the latest standards. In addition, a sample review of previous sales can be undertaken to highlight potential areas of weakness.

Where weaknesses are identified recommendations will be made. By following through on the recommendations the firm will be able to demonstrate to the regulator that they are proactive in assessing the risks to their business, have commenced remedial action to assess any past customer detriment and made changes to their operating practices to limit any potential future risks.

To find out more contact us for an initial discussion.