From today (11 October) we are improving the price on three of our standard residential fixed rates.
The FCA has introduced new rules and guidance, setting clearer and higher expectations for firms’ standards of care towards customers. The new Consumer Duty assures firms are acting to provide good outcomes for their customers and appropriately protecting them from harm.
All firms should be able to demonstrate they are offering fair value for products and services that help customers pursue their financial objectives, and ensure customer understanding alongside providing access to support.
As a manufacturer of mortgage products and to comply with the consumer duty requirements we are required to share key product information with Intermediaries that distribute our products. This includes the intended target market and our determination that our products represent fair value. This information is also provided to assist Intermediaries that distribute our products in complying with their requirements under the duty.
We have published this information, here, using industry standard templates that have been reviewed by all major sourcing systems, AMI, IMLA, BSA and UK Finance.
If you have any questions, please do not hesitate to contact us.