It’s essential to consider and record all alternative options to ensure comprehensive advice. Before you advise on an equity release product or a customer has approached you to consolidate debt onto their mortgage or take out a second charge, you should:
- Consider All Options: Discuss and document all alternatives in full, ensuring that customers understand why certain options are or are not suitable for them.
- Detailed Notes: Keep comprehensive records of these discussions, using the customer’s own words rather than generic text, to demonstrate that all options were considered and why specific recommendations were made.
