The Association of Finance Brokers (AFB) has published a customer information fact sheet on secured loans in response to requests from its members.

The fact sheet contains an outline text that members can adapt for their own purpose and place within their own documentation as well as branding, to explain relevant issues to customers.

It is free of charge to Association of Finance Brokers (AFB) members and includes information on what a secured loan is, the differences between secured and unsecured loans, complaints procedures, how to compare products, cancellation and early termination, as well as remuneration and data protection.

Robert Sinclair, director of AFB, said: "Many of our members have requested that we produce a secured loans customer information fact sheet.

"While there can be no compulsory requirement for a firm to issue a customer information booklet, there are certain regulatory obligations to provide key information in relation to loans, which the customer information fact sheet addresses."

Source: http://ftadviser.com/FTAdviser/Mortgages/Products/SecuredLoan/News/