Does your firm provide advice on mortgages? The FCA has introduced new rules for mortgage sales to “make it easier for firms to present options to customers without giving regulated advice”. This includes permitting of tools to search for mortgages based on customer appropriateness and allowing interactive dialogues in execution-only sales, limited to factual information. Changes are intended to make execution-only sales more accessible, but firms will still need to explain to a consumer why any recommendation is made, for example: where a cheaper product might also meet a customer’s needs and circumstances.
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