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| FSA criticises Mortagage lenders for being inefficient to defend customersFinancial Services Authority has heavily criticised the mortgage lenders, for the way they have handled the matters relating to arrears and repossessions.
By: Lilly Presently facing 'credit crunch', FSA has requested all the moneylenders to acquire a more mature outlook while dealing with customers who are finding it extremely hard to discharge their financial obligations. FSA has also asked them to resort to legal action, only if there is no other option left. They have also asked customers to get their priorities right, before availing loan. If confused, they can certainly take the help of financial consultants. FSA, in a bid to implement TCF guidelines strictly has claimed to be severe on those who were found guilty of not following the rules and regulations appropriately. FSA also expressed that most of the culprits are the minor specialist loan providers. Also many firms were found guilty of having a poor infrastructure for educating people properly about the pros and cons about a particular loan. FSA has also asked loan providers to provide more flexible repayment options. They also asked companies to be more careful in future regarding the procedure that is being adopted by loan providers is fair enough or not. For those who are facing difficulties in raising deposit for property in adverse market conditions, availing loan at cheap rate of interest may be a good option. For more information on the subject of this news, or for a sample, copy or demo, please contact webmaster or visit http://www.shakespearefinance.co.uk/ If you have any queries, please do not hesitate to contact us at: Postal Address : Parade House 135, The Parade High Street Watford Hertfordshire WD17 1NS Call Free at : 0800 097 3653 Email : info@shakespearefinance.co.uk End
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