Mortgage broker - your West Yorkshire broker and the FSA

Whichever mortgage broker in West Yorkshire you choose to work with, make sure they are authorised by the FSA.

It’s only a few years since mortgage brokers had to b authorised and regulated by the Financial Services Authority (FSA), but it’s made huge difference to mortgage consumers. Although the vast majority of mortgage advisers were already impartial and giving excellent advice, there was always the danger that you would be adviser by someone with only a little market knowledge, who would sell you a mortgage that simply wasn’t right for you. A number of mortgage mis-selling scandals, particularly around endowment mortgages, sucked a lot of consumer confidence out of the mortgage market, but that confidence has now returned, thanks to the work of the FSA, mortgage providers and mortgage brokers.

West Yorkshire brokers and the FSA

One of the most important things to do when you’re selecting a mortgage broker - in West Yorkshire or across England and Wales - is to make sure the company is either authorised and regulated by the FSA, or is an approved representative of a company that is authorised and regulated. Many mortgage brokers are approved representatives, which means that they are part of a network. Each member of the network is audited on a regular basis by the network company, and must prove that their practices are in line with FSA regulations. The penalties for giving advice outside FSA guidelines are harsh.

If you are unsure whether your broker is regulated by the FSA or not, you can use the FSA’s own website to check, but regulated firms and appointed representatives must declare their status on all communications they have with clients - including letterheads and websites. If you come across a mortgage broker site that doesn’t mention its FSA status, you should double check immediately, or find a mortgage broker that clearly states its position.

Move and Mortgage isn’t just a mortgage broker in West Yorkshire, but is dedicated to offering you an alternative to estate agents when it comes to selling your home. Set up an account, advertise your property yourself and stop paying estate agent fees. Setting up your advert is free; all Move and Mortgage ask is that you consider their advice when it comes to your next mortgage - but as appointed representatives of Financial Ltd, which is authorised and regulated by the FSA, you can be sure that you’re getting fair and impartial mortgage advice. Find out more about this great opportunity to advertise your home free of charge by calling 0800 077 8225 or filling in our online enquiry form.

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