Cherry Mortgage and Finance selected for Parliamentary Review

Michael Lloyd

September 3, 2018

Dorset-based independent mortgage broker, Cherry Mortgage & Finance, has been selected to feature in this year’s Parliamentary Review.

Representing the financial services sector, the company will feature in the publication alongside leading businesses that have been picked by the government to participate to showcase current practice or outline future initiatives.

The purpose of the Parliamentary Review is to use the input of a number of businesses and organisations to inform law and policy makers about best practice, innovations and issues within a number of industries. Businesses represented in addition to financial services include agriculture, environment, healthcare, education and many others.

Matthew Fleming-Duffy, director and mortgage adviser at Cherry Mortgage & Finance, said: “We are honoured to offer our insights and experience to help inform government policy.

“Many credit-worthy consumers are currently refused a mortgage following the regulatory changes we have seen here in the UK over the last few years.

“We have seen mortgage prisoners that cannot seek to obtain a cheaper loan as they do not qualify under new lending criteria. 10 years on from the ‘credit crunch’ and we must ask ourselves.

“Are we in a better place financially? Globally, the financial system imploded on itself in 2007-08 with many financial institutions forced to close or seek significant re-structuring.

“Tougher mortgage regulation was well overdue, but it does feel somehow as a though the pendulum of regulation has now swung too far. It has never been more important for the British government to understand what is happening in the mortgage industry currently.”

Speaking of the importance of the review, Sir Eric Pickles, chairman of the Parliamentary Review, said: “It has never been more important for government to hear the views of business and the public sector in a constructive forum. It is also a vital time to share best practice and progress.”

Lord Blunkett was announced as co-chairman of the Review in March 2018.

He added: “The importance of The Parliamentary Review to the wider business community is self-evident. The understanding of and ability to be able to relate to the political arena has never been more vital.

“Everything around us, events of the last three years and present circumstances, reinforce this on a daily basis.”

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