One to ponder for the financial regulation experts!

I am an authorised mortgage intermediary located in a small midlands town.

Lately i have learned of 3 cases where people have drawn down their mortgage independently from a building society- nothing wrong with that, however they had received "guidance" ie help in filling out the application form frm another professional person who is not an authorised mortgage intermediary. This person insists that they did not act illegally as they had not received fees or commission for any of their "guidance".

What is the legal definaion of a mortgage intermediary? Is this person entitled to do this?

A person offering such assistance can not be construed in any way as acting in the capacity of an intermediary. Even had this person being paid a fee for providing "help" with the form filling they would not be breaking any law or even professional rules.

Hi wendy,

Do authorised mortgage intermediaries have a trade representative body?

aj

What sort of "help" did they give?
If the applicant wasn't able to write or their native language wasn't english I assume that somebody would still need help?
You couldn't possibly charge for this, or prosecute for giving mortgage advice, could you?