Which group may arrange an execution-only mortgage without first receiving advice?

Which group may arrange an execution-only mortgage without first receiving advice?

• A. Any customer who requests it.
• B. High-net-worth individuals.
• C. Those who are purchasing property under the right to buy legislation.
• D. Those who are seeking to consolidate debt by remortgaging.

Answer: (B)

Execution-only deals are allowed for customers who are capable of understanding the risks and making their own decision without advice. High-net-worth individuals are typically treated as professional clients with sufficient experience and wealth to assess a mortgage on their own, so they may arrange an execution-only mortgage after recognizing they are not receiving advice and that the lender will not assess suitability. The other groups listed aren’t automatically eligible for execution-only arrangements. Right-to-buy purchases, debt-consolidation remortgages, or any customer simply wanting to proceed without advice don’t by themselves justify an execution-only path; appropriate advice or suitability checks are generally still required to protect the customer.

Execution-only deals are allowed for customers who are capable of understanding the risks and making their own decision without advice. High-net-worth individuals are typically treated as professional clients with sufficient experience and wealth to assess a mortgage on their own, so they may arrange an execution-only mortgage after recognizing they are not receiving advice and that the lender will not assess suitability.

The other groups listed aren’t automatically eligible for execution-only arrangements. Right-to-buy purchases, debt-consolidation remortgages, or any customer simply wanting to proceed without advice don’t by themselves justify an execution-only path; appropriate advice or suitability checks are generally still required to protect the customer.