There is no specific regulatory requirement to produce a suitability report for mortgages.
To our mind, this is crazy thinking and it is our strong recommendation that firms should issue reports for all mortgage related business, be it regulated or not, because this provides good protection against potential complaints.
Think about it another way – will your business be more, or less valuable, if every case is supported by a good quality suitability report?
Important Note: ATEB news is intended to provide general information ONLY. The content, including any views expressed or guidance provided, does not replace the need to comply fully with FCA Rules and Guidance. Unless you have discussed news article content with ATEB, and specifically how it relates to your circumstances, then ATEB disclaims all liability and responsibility and actions arising from any reliance placed upon it. For the avoidance of doubt therefore, any reliance you place on such information without our consultation is at your own risk.
ATEB Compliance offers compliance and regulatory advice.
ATEB Suitability provides report writing software for the financial services market.
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Well that’s 2023 just about done. Out with the old and in with new as they say, but what’s gone and what can we look forward to? For all sorts of reasons, 2023 has been another year where a lot has occurred in 365 days. So what did happen? Lots of things, like… In […]
We have completed the latest upgrade to ATEB Suitability on 19th December 2023. This update comes at no additional cost and provides various template related enhancements as well as new additions to our content management libraries. Full details of the enhancements can be found in the tables below, but some of the highlights are: ‘Onshore […]
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