I am writing in regard to the story about the financial adviser who had a complaint upheld against him, after organising a mortgage, the funds from which a borrower used to invest in Bulgarian property (FA, 10 December).
I have read Fos’ decision and it would appear to me it all focuses on the interest-only part of the remortgage and the associated requirement for a suitable repayment vehicle.
In 2009 all BTL lenders were more than happy with ‘sale of BTL property’ as a repayment vehicle, which I am sure would have been part of the application.
Also the decision states that Mrs H’s income was a figure ‘the adjudicator was not satisfied was provided by Mrs H’. So this ‘professional’ financial client, who is an accountant, is not expected to read an application form before signing it?’
I appears to me that Fos has chosen to ignore her ‘professional financial status’ when it suits.
I am off now to make a complaint about the solicitor who handled my divorce, because if he had not helped me get what I wanted I would not have had to pay all that money to my ex-wife.
Andy Matthews
Senior financial consultant,
Chetwood Wealth Management,
Truro,
Cornwall
