Britain’s Financial Services Authority (FSA) has warned mortgage lenders today to treat customers in arrears fairly or face action from the regulator.
The FSA has written to the chief executives of all mortgage lenders giving them until January 31th to ensure that people in arrears or facing repossession are being treated in accordance with its rules.
It is the second warning letter it has sent in recent months, and follows an earlier review which found "weaknesses" in arrears and repossessions handling, particularly among firms lending to people with impaired credit histories.
PA
