Regulatory Alerts2024-10-10
Quality Mortgage Advice 2024: Results of a 2023-2024 Exploration
The Dutch Authority for the Financial Markets (AFM) issued this report following an exploration of mortgage advice quality in 2023 and 2024 to identify consumer risks and update regulatory expectations. The findings indicate that previous concerns regarding financial assessment and advisory independence persist, while highlighting new risks related to over-reliance on standardized questionnaires and insufficient attention to fiscal history and relationship termination consequences. The AFM requires advisors to critically evaluate client situations beyond maximum borrowing limits, ensure accurate information gathering, and explicitly discuss specific financial implications such as sustainability and separation scenarios.
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