A quarter of mortgage brokers have no plans to provide home information packs to their clients, according to a survey by the Association of Mortgage Intermediaries.Its research shows 88 per cent of brokers believe that home sellers will approach estate agents first to arrange their Hips. Twenty-six per cent say they will not offer access to Hips, 7 per cent will produce Hips in-house, 46 per cent will white-label Hips, 16 per cent plan to establish ties with estate agents and 4 per cent will offer other options. Associate director Rob Griffiths says: “It is pleasing to see the majority of members considering the impact that Hips will have on their businesses but the results show there is still a large degree of uncertainty in the mortgage intermediary community. “Many seem to be holding back and waiting for further information before making concrete business plans.” Insurance network Ceta managing director David Quick says: “I feel that the 88 per cent of respondents are right that estate agents will be approached first and will have the upper hand in the provision of Hips. “A large proportion of estate agents already offer conveyancing services, mortgage and insurance advice so now they will be in pole position to control everything, which makes no sense as they are the only part in the process that is not regulated.”
The Association of British Insurers believes everything is hunky dory with the Financial Services Compensation Scheme.
Actuarial and pension specialists Wolanski & Co and CheckleyFisher have merged to create Wolanski CheckleyFisher.
Ron Sandler has been signed up as chairman of closed life fund consolidator Paternoster.Sandler, current chairman of financial education charity PFEG and former chief executive of Lloyd’s of London, takes up his position with immediate effect. He is also currently chairman of Computacenter, Kyte Group and Oxygen.Paternoster, led by former Prudential UK chief executive Mark […]
M&G recently offered readers the chance to win an exclusive day out at Royal Ascot races to mark the 75th year since M&G launched the UK’s first unit trust. Melvin Pye of Smith & Pinching Financial Services and Mark Rowe-Ham from Brewin Dolphin Securities each win a pair of tickets to spend the day in […]
Mark Martin, Investment Director, Head of UK Equities At 10 per cent of the portfolio, Carpetright is a major holding in the Neptune UK Mid Cap Fund and one of its most contrarian positions, based primarily on the company’s significant self-help potential as well as exposure to UK and European economic recovery. The company has recently appointed […]
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The Financial Services Compensation Scheme has declared self-invested personal pension operators Stadia Trustees, Brooklands Trustees and Montpelier Pension Administration Services in default. The lifeboat fund has received around 150 claims for compensation relating to the three businesses. Those claims relate to how the businesses set up, operated and administered Sipps through which people invested in […]
The Department for Work and Pensions has confirmed it will not change the pensions triple lock and will explore bolstering the powers of The Pensions Regulator in the forthcoming legislative period. The DWP published its “single departmental plan” yesterday, which sets out five objectives it is working towards over the next four years. It has […]
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