Brokers are faced with a dilemma as interest rates rise. The Financial Conduct Authority's demand for brokers to offer 'fair value' products is at the forefront brokers’ minds when they decide how to deal with the customer.
For brokers dealing in premium finance, life doesn’t get any easier.
In the past year, they’ve been navigating FCA
scrutiny that has escalated premium finance compliance requirements.
A tricky process for brokers still taking an annual percentage rate of more than 30% – a threshold that many view as the limit of what they should be charging.
This regulatory scrutiny is compounded by rising interest rates coming from the Bank of England, which premium finance lenders passed on to brokers in
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