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The role of the mortgage adviser (Fact Find (Intentions, Income and…
The role of the mortgage adviser
Fact Find
Intentions
Income and outgoings
Deposit and cash
Employment
Management of finances
Budget and rate rises
Early repayment
Term
Protection needs
Attitude to risk
Principles of ethical advice
Ethical advice
Needs
Circumstances
Objectives
Attitude to risk
Fair treatment of customers
FCA Principles for Business
Prin 2 - Due skill, care and diligence
Prin 3 - Organise and control its affairs
Prin 6: Treat customers fairly
Prin: 7 Communicate clear, fair and not misleading
SIx FTOC Outcomes
FTOC central to corporate culture
Products/services meet needs of identified groups and targeted accordingly
Clear info provided and kept appropriately before, during and after sale.
Advice is suitable
Products perform as expected
No post-sale barriers to change product, switch provider submit a claim or make a complaint.