Assessing vulnerability: How can firms help mitigate risks of DIY SIPPs?
The Mortgage Charter and Handbook changes set out the standards for lenders in assisting customers during the cost of living crisis who are struggling with mortgage payments, through collaboration between lenders, government, the FCA, UK Finance and the Building Societies’ Association.
With the rises in interest rates and inflation taking a massive toll, StepChange Debt Charity revealed in June that 45% of mortgage borrowers have found it difficult to keep up with bills and credit commitments in the last few months.
The implementation of Consumer Duty also offers an opportunity to refocus on delivering the forbearance and tailored support measures which are most impactful for your customers when they are most acutely needed.
At TCC, we offer expert support to firms to provide independent challenge and validation of Consumer Duty implementation and good customer outcomes.
Let’s talk… Contact us for an exploratory conversation about your own individual views and risks. Plus get an introduction to who we are and how we build ongoing relationships with our clients on trust and value.