This page is for use by the Society’s broker partners. If you are not a Mortgage Broker or Financial Adviser, please refer to our main website
Under the FCA’s Consumer Duty, The Scottish Building Society has a responsibility to:
- Ensure that its products provide fair value to retail customers in the target markets for those products
- Carry out a value assessment of its products and review that assessment on a regular basis appropriate to the nature and duration of the product
The Society is required to provide our intermediary partners with the results of our value assessments. This is to ensure that intermediaries distributing our products and services have all necessary information to understand the value that the product is intended to provide to a customer. This also allows our intermediaries to meet their requirements under the Consumer Duty.
The FCA’s Consumer Duty rules require that The Society must make all appropriate information available to intermediaries to:
- Understand the characteristics of the product or service
- Understand the identified target market
- Consider the needs, characteristics, and objectives of any customers with characteristics of vulnerability
- Identify the intended distribution strategy
- Ensure the product or service will be distributed in accordance with the target market
FOR INTERMEDIARY USE ONLY