FINAL NOTICE

Of: Number One

Waterton Park

Bridgend
Mid Glamorgan
CF31 3BF



ACTION

1. For the reasons set out in this Final Notice, the Financial Services Authority (the “FSA”)
hereby takes the following action against Mortgages UK 1970.

2. The FSA gave Mortgages UK 1970 a Decision Notice on 5 April 2012 (the “Decision
Notice”) which notified it that for the reasons given below and pursuant to section 45 of
the Financial Services and Markets Act 2000 (the “Act”), the FSA had decided to cancel
the permission granted to Mortgages UK 1970 under Part IV of the Act (“Mortgages UK
1970’s Part IV permission”).

3. Mortgages UK 1970 has not referred the matter to the Upper Tribunal (Tax and Chancery
Chamber) within 28 days of the date on which the Decision Notice was given to it.

4. Accordingly, the FSA has today cancelled Mortgages UK 1970’s Part IV permission.


REASONS FOR ACTION

5. On the basis of the facts and matters and conclusions described in the Warning Notice
issued to Mortgages UK 1970 dated 17 February 2012 (the “Warning Notice”), and in the
Decision Notice, it appears to the FSA that Mortgages UK 1970 is failing to satisfy the
threshold conditions set out in Schedule 6 to the Act (the “Threshold Conditions”) in that
the FSA is not satisfied that Mortgages UK 1970 is a fit and proper person having regard
to all the circumstances, including the need to ensure that its business is conducted
soundly and prudently.

6. This is because Mortgages UK 1970 has failed to comply with the regulatory requirement
to submit its Retail Mediation Activities Return for the period ended 30 September 2011
(the “RMAR”). Mortgages UK 1970 has not been open and co-operative in all its
dealings with the FSA, in that it has failed to respond to the FSA's repeated requests for it
to submit the RMAR, and has thereby failed to comply with Principle 11 of the FSA's
Principles for Businesses and to satisfy the FSA that it is ready, willing and organised to
comply with the requirements and standards under the regulatory system.

7. These failures, which are significant in the context of Mortgages UK 1970’s suitability,
lead the FSA to conclude that Mortgages UK 1970 is not conducting its business soundly
and prudently and in compliance with proper standards, that it is not a fit and proper
person, and that it is therefore failing to satisfy the Threshold Conditions in relation to the
regulated activities for which it has had Part IV permission.

DECISION MAKER

8. The decision which gave rise to the obligation to give this Final Notice was made by the
Regulatory Decisions Committee.

IMPORTANT

9. This Final Notice is given to Mortgages UK 1970 in accordance with section 390(1) of
the Act.

Publicity

10. Sections 391(4), 391(6) and 391(7) of the Act apply to the publication of information
about the matter to which this Final Notice relates. Under those provisions, the FSA must
publish such information about the matter to which this Final Notice relates as the FSA
considers appropriate. The information may be published in such manner as the FSA
considers appropriate. However, the FSA may not publish information if such publication
would, in the opinion of the FSA, be unfair to Mortgages UK 1970 or prejudicial to the
interests of consumers.

11. The FSA intends to publish such information about the matter to which this Final Notice
relates as it considers appropriate.





FSA Contact

12. For more information concerning this matter generally, please contact Evan Cheminais at
the FSA (direct line: 020 7066 7232/fax: 020 7066 6677).

John Kirby
FSA Enforcement and Financial Crime Division