Dealing with issues arising from joint facilities can be challenging, particularly where there is family violence involved or where only one borrower engages with the financial services provider (FSP). We expect FSPs to follow some general principles when engaging with customers in this situation:
- understand that these customers are likely to be experiencing considerable stress
- be willing to work with their customers individually
- be flexible in their approach
- be mindful of any access or safety concerns.
FSP staff also need to be trained to recognise the warning signs of potential financial abuse, particularly at the time of lending, and know how to respond appropriately. We encourage FSPs to provide ongoing support for their staff, to help them deal with these matters when they arise.
Read more about The FOS Approach to Joint Facilities and Family Violence.