Mortgage advisers instructed to disclose bank fees

THE governing body of Ireland's independent mortgage advisers has instructed its members to disclose to customers the fees it receives from banks and other lending institutions.

The Independent Mortgage Advisers Federation, which controls 70% of the mortgage brokerage business, said all members would have to comply in order to retain membership.

IMAF president Michael Dowling added that, despite assertions by the Consumers Association of Ireland, his organisation had no difficulty in ensuring their customers had full disclosure.