Homeowners-cum-tenants who have been ripped off by sale-and-rent (SRB) firms may be in line for compensation. SRB firms offer to buy homes and then let them back to their previous owners. However, according to a review of the market by the Financial Services Authority (FSA), most deals offered are either “unaffordable or unsuitable”. The regulator [...]
compensation
UK first: mortgage firm fined for irresponsible lending
In the first case of its kind, the Financial Services Authority (FSA) has fined DB Mortgages for irresponsible lending practices and unfair treatment of customers in arrears.
The firm is part of the Deutsche Bank Group and in addition to paying an £840,000 penalty is facing a bill of around £1.5 million in compensation to borrowers.
DB’s [...]
