The FSA has fined a mortgage broker £16,800 for breaches of Principle 9 (Customers: relationships of trust) as a result of failing to ensure its recommendations were suitable. In particular, the firm calculated affordability on the basis of customers' gross rather than net income and could not evidence why self-certification mortgages had been recommended to customers who were employed and able to prove their income, or that the increased costs of such mortgages had been explained (Leybridge Limited, 21 August 2008).

View FSA Final Notice - Leybridge Limited, (PDF 116KB), 21 August 2008