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UK Property Finance Salutes the FCA’s Outlined Action on Unregulated Financial Services

12/14/2016 12:00:00 AM   0 Comments   bridging loans, buy to let

The time has come for unregulated, unscrupulous and irresponsible financial service provision to be driven out of the UK industry once and for all. Thats the opinion of leading financial service provider UK Property Finance Ltd, having supported a statement from the Financial Conduct Authority regarding the problem blighting Britain.

As far as the FCA is concerned, unregulated financial firms are a leading cause of businesses and domestic customers alike finding themselves in dangerous financial positions. Because of this, prospective customers at all levels are being advised to proceed with extreme caution, when it comes to the advisors, lenders and general service providers they do business with. If they do not carry full FCA-regulated status, it may be in your best interests to look elsewhere.

Irresponsible Activity

“Many of the problems we have seen in the market, from the crash of 2008 onwards, have been caused by regulated firms undertaking activities which are outside our ‘regulatory perimeter. But we have limited resources and must prioritise using them where we can have the biggest impact. We will prioritise intervening outside the perimeter when we believe our objectives are threatened.” – Financial Conduct Authority (FCA)

When it comes to problematic financial positions, the FCA is pointing the finger of blame squarely at those involved in irresponsible activities. Working with a financial service provider that isnt committed to outstanding-quality service in full accordance with the needs of the customer means taking a risk that could have grave consequences. Nevertheless, research has shown that the vast majority of borrowers and customers in general do not sufficiently check credentials, before deciding which service providers to work with.

While theres much to take into account when it comes to convenience, flexibility and maximum value for money, UK Property Finance Ltd insists that only those that are fully regulated should be considered safe to do business with – for any purpose at any level.

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