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BM gives Asda credit for checks

BM Solutions is calling on the mortgage market to follow Asda’s example of paying for rejected credit card applicants to have their credit history checked.

The HBOS-owned lender claims the move could help generate customer loyalty and can also aid the fight against identity theft and fraud given customers can view all mortgage, loan and credit card applications made in their name.

Several brokers welcome the sentiment but believe any initiative in the intermediary market could only be carried out by packagers because of Data Protection Act restrictions.

BM Solutions spokeswoman Carla Lavender says: “It is important for providers to encourage people to keep an active look at their credit history. Credit is an important issue for our customers, particularly in the sub-prime market. Brokers could also do their bit by helping explain customers’ credit history to them.”

John Charcol technical director Ray Boulger says: “If we could do it, we would but lenders are not allowed to tell us clients’ credit details.”


Jemma Barnard joins Henderson

Henderson Global Investors has appointed Jenna Barnard as co-fund manager for the Henderson preference and bond fund and the Henderson strategic high yield bond fund.Barnard has been working with John Pattulo on the funds as deputy portfolio manager since 2003, having joined as a credit analyst in 2002, focusing on investment grade and high yield […]

IFAP produces consumer guides to key facts

IFA Promotion is issuing a factsheet through its website explaining key facts disclosure documents to consumers.The sheet explains how consumers can use the mandatory information covered in the two documents – About our Services and About the cost of our services. It clarifies the status of financial advisers and looks at how consumers can use […]

HSBC merges funds into 1bn portfolio

HSBC Investments has mer- ged its three core UK equ- ity funds to create the 15th-biggest UK all companies portfolio. The company’s 413m British fund, 157m household names fund and the 518m growth and income funds, which are all run by Bob Morris, are being merged to create a flagship 1.15bn growth and income fund. […]

Public say no to offshore call centres

Over 80 per cent of customers do not want their financial service products serviced by an overseas call centre, according to research from Alliance and Leicester. Worries about the safety of personal information and problems with communication are the chief concerns.


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