The licensee, John Ian Taylor, was trading as Foremost Mortgages, Caledonia Mortgage Company and J Taylor Mortgages despite registering his licence under the name Foremost Mortgages Ltd. The licensee failed to give his full name on one application form and provided different dates of birth on two other application forms.
As such, the adjudicator has revoked Taylor’s consumer credit licence indefinitely.
Christine Wade, director for consumer regulation enforcement at the OFT, said: “Unlicensed trading and failing to provide correct information are serious offences, and we will not hesitate to revoke licences on that basis.”
The OFT revoked 46 licenses from 1 January 2002 to 31 March 2003 and issued 282 warning letters to consumer credit licence holders.
Chris Cummings, director of mortgages at AMI, said: “The low numbers of revoked licences attest to the MCCB’s work discouraging so many unfit firms from applying. It is also testament to the increasing professionalism in our industry.”
In the assessment of fitness, the OFT takes into account a number of factors including any offence or conviction for dishonesty or violence, consumer complaints, unfair business practice or evidence of discrimination on grounds of colour, sex, race or ethnic origin.
