FSA promises more action on endowment mortgages

The FSA has said there is still a long way to go in improving sales standards for endowment mortgage...

The FSA has said there is still a long way to go in improving sales standards for endowment mortgages, following initial investigations. The regulator believes that although there have been significant improvements in endowment selling since it began its investigation in January, 'mystery shopping' exercises conducted on leading lenders and IFA groups throughout the summer have found that further improvements in selling standards are necessary. The exercise will act as a guide for forthcoming supervisory visits, which is to advise on current practice and future selling. Michael Folger, di...