Mortgage arrears and repossessions handling
To help firms with their mortgage arrears and repossession handling, we have outlined some examples of good and poor practice.
This follows two projects, which are detailed in the press releases below:
FSA refers firms to enforcement in clampdown on poor mortgage arrears handling - June 2009
This project found continued weaknesses in the way specialist lending firms and third party-administrators are handling mortgage arrears and repossessions. As a result several firms were referred to our enforcement department.
FSA reiterates call for firms to treat customers fairly in the current market conditions - August 2008
This project found mainstream lenders were largely meeting our requirements, but found particular concerns with specialist lenders.
Examples of good and poor practice