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Last year I tried to help a friend who had a mortgage mis-sold by a rogue broker in 2005. The broker went out of business in 2006. The FSCS couldn't award compensation as they couldn't ascertain whether or not the broker had any assets and my friend couldn't afford to take her to court. The adviser was one of her employees.
ALL the advising and arranging rules were broken and the mortgage couldn't have been more unsuitable. I became Ms Snoop as I am disgusted at what happened to my friend and she has had no redress. I have just discovered that the employee has been given a licence by the OFT as a sole trader under the same company name as the sole trader he worked for. My jaw fell open!!
He is not registered by the FSA. My friend immediately informed the FSCS and they are going to investigate. This man should never be allowed to sell a mortgage again. I wonder what if anything this means for my friend in terms of her previous claim. Any thoughts? At least the FSCS now have proof of what chancers this pair are.
ALL the advising and arranging rules were broken and the mortgage couldn't have been more unsuitable. I became Ms Snoop as I am disgusted at what happened to my friend and she has had no redress. I have just discovered that the employee has been given a licence by the OFT as a sole trader under the same company name as the sole trader he worked for. My jaw fell open!!
He is not registered by the FSA. My friend immediately informed the FSCS and they are going to investigate. This man should never be allowed to sell a mortgage again. I wonder what if anything this means for my friend in terms of her previous claim. Any thoughts? At least the FSCS now have proof of what chancers this pair are.
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