New EU ruling means brokers must declare fees
Under new EU mortgage rules, brokers will be forced to declare details of their commission fees to clients.
Speaking at the Financial Services Expo in London, the FCAs Lynda Blackwell said that brokers who received commission fees would have to give clients details of what payments they are likely to receive if asked.
Brokers are not required to offer the details to the customer unless asked, however if a request is made, this information must be freely available to give to the client.
Read the full article at Mortgage Solutions