CML responds to FCA announcement

October 20, 2016

The Council of Mortgage Lenders (CML) this week responded to the FCA’s announcement of a consultation on a potential framework for remediation to address past arrears calculation methodology problems.

To read the news release from the CML in full click here

Paul Smee, CML director general, says:  “Those lenders who used the arrears calculation methodology now identified as problematic did so in good faith, believing that they complied with the rules and were acting in customer interests. They are fully committed to delivering fair outcomes for all customers, past and present. Customers do not need to do anything. Once lenders have digested the regulator’s consultation and determined the most appropriate way to undertake the expected remediation, they will be in touch directly with affected customers”.

Allen Walkey

Highly experienced businessman with a successful career in property sales and investment both in the UK and abroad. Now a freelance writer and blogger for the property and Investment Industry, keeping readers up-to-date with changes and events in a rapidly changing world.

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