CONSUMER DUTY UPDATE
Read more about how we're committing to the Consumer Duty requirements
At MHBS we are fully committed to complying with all Consumer Duty requirements.
CEO Iain Kirkpatrick, said of our commitment, “Consumer Duty is not only a regulatory requirement, it also sits right at the heart of our ambition for how we support our members to meet their financial objectives. It underlines much of what we already do and will support us as we look to the future and to helping our customers, our community and our colleagues to thrive.”
Product information
We have adopted the Product Information template created via a joint industry working group with UK Finance, the Building Societies Association, the Association of Mortgage Intermediaries and the Intermediary Mortgage Lenders Association.
Our Product Information Sheets are being provided to you to fulfil our responsibilities under PRIN 2A.4.15R and PRIN 2A.3.12 R (2).
They have been designed to support you to comply with your responsibilities under PRIN 2A.3.16 R and PRIN 2A.4.16 R.
Please note that you are ultimately responsible for meeting your obligations under ‘The Consumer Duty’.
This information is intended for your use only and should not be provided to customers.
Completing our Product Information Sheets
In order to complete these Sheets we have developed a detailed internal process that assesses all aspects of our products, including whether they deliver fair value for customers. These have been considered by representatives from across the business.
Moving forward we will be reviewing these products annually or more often if external events cause us to reconsider or if we receive feedback or data that indicates that we should conduct a review.
Product Sheets PDF links
Product Information Sheet – Bridging
Product Information Sheet – Regulated Expat Buy to Let
Product Information Sheet – Regulated Holiday Let
Product Information Sheet – Regulated Buy to Let
Product Information Sheet – Expat Residential
Product Information Sheet – Residential
Product Information Sheet – Residential Large Loan
If you need any further information about our products or services, please call 01858 412345 or email brokers@mhbs.co.uk.
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