Improving the consumer landscape and quicker switching: call for evidence
Last updated: 30 Jun 2016
- Consulting body:
- Department for Business, Innovation and Skills
- Period of consultation:
- Runs from 24 May 2016 to 23 June 2016
- CML action:
- Response submitted
The Department of Business Innovation and Skills (BIS) published a consultation: Improving the consumer landscape and quicker switching: call for evidence, seeking views on ways to improve consumer choice, including improving advice and representation and making switching suppliers faster.
In our response, we noted the complexity of the mortgage switching process. The amounts involved are normally quite large and making the wrong decision could be very expensive for consumers so we contend that a simple seven day switching target would not be in the best interests of consumers or lenders.
Our full response can be downloaded below.