The Financial Conduct Authority (FCA) has announced further changes to the statutory Information Sheets which all lenders must send with letters notifying customers of their arrears and defaults.
The Information Sheets have been updated to provide more targeted and useful help to customers, particularly those with mental wellbeing issues. It is worth noting that if firms do not issue the correct version of the Information Sheet, there is a risk that default notice or notices of sums in arrears may be considered defective.
The new statutory Information Sheets will come into force and must be used from 25 October 2021 onwards but until then lenders must continue to use the current versions of 26 July 2018.
