FTAdviser.com

Advertising

Consumers have been warned by the FSA not to take financial advice from Leicestershire-based Swati Patel from Mortgage Deals 4 U Ltd.

The regulator issued a consumer alert strongly advising customers not to take mortgage or financial advice from Ms Patel or to give her personal and financial details. It believes she submitted mortgage applications to lenders through Mortgage Deals 4 U Ltd.

This could potentially affect any customers who arranged a mortgage or personal loan through Ms Patel and anyone else who gave her their personal and financial details.

Robin Gordon-Walker, press officer for the FSA, said: "Leicestershire Police has started an investigation into Ms Patel because she had a number of complaints against her. The allegations are of mortgage fraud and possible misuse of client information."

Jonathan Reeves, press officer for Leicestershire Constabulary, said: "We can confirm that a 38-year-old woman has been arrested on suspicion of fraud and has been released on police bail pending further enquiries."

Clients that took out a mortgage, re-mortgage, or a personal loan through Ms Patel, or in the process of doing so are strongly advised to contact Simon Boden at Leicestershire Police on 0116 222 2222 ext 5194 or Chris Walmsley or Arzoo Azizi at the FSA on 0207 066 5894 or 020 7066 3512.