Mortgages - application times reviewed
We have a mobile mortgage service - we can visit applicants for mortgages in their own home
We have steered away from cash back and offer some of the most competitive rates in the market
We don't offer any deal to a new customer which is not available to an existing customer
The overpayment allowance on fixed rates is now 10% per annum
Tracker mortgage examination update
We failed to
We did not live up the standards of full transparency and disclosure
Phase 1 is complete
Phase 2 has been submitted to the CB March 2017 - until they review it, Phase 2 is ongoing.
Phase 3 and 4 are ongoing.
Just under 3,500 impacted customers have been identified.
For 57 it would have resulted in an increased rate, so they have not been put back.
Under 40 have been "mediated" - edit, maybe he said, "remediated"?
We are starting slowly to test the model.
It will run well into 2018.
They will have12 months to appeal
We have identified a small number of customers who have lost their homes. The numbers are low, but could be higher.
Two independent appeals panels have been appointed:
legal/accounting/ consumer reps