Why are the banned in the UK?

It's hard to say why it is banned, we don't want come across all conspiracy theorist and come up with reasons that we have no evidence for. If we flip round though, where is the evidence that they should be banned? We have never seen it, it's actually the FCA and politicians who are dealing in conspiracy type theories without evidence. Has anyone seen the evidence - please send it to us! 

What there is evidence for is that banning people from taking out self cert products, has trapped a lot of people on their old SVR (Standard Variable Rate) products - some currently paying 6% APR and above. If these people were able to refinance, they could be paying 3-4% or lower with mainstream lenders without even looking around too much.

The Financial Conduct Authority banning competition from appealing to those on the most expensive mortgage plans is not in the interests of those borrowers, it is however in the interest of Government backed banks and the other financial institutions because they can charge whatever they want and know that they have a captive customer base that cannot leave.

Why are the banned? Is a very tough question, we don’t know exactly. As some very smart person once said – “follow the money”

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Self Cert is not based in the UK. We are NOT regulated by the Financial Conduct Authority

Prague 1, Czech Rep