View more on these topics

Brokers welcome regulation decision

National mortgage brokers have given an overwhelming welcome to the decision to regulate mortgage advice.

Charcol senior technical manager Ray Boulger says: "This is good news. The CML lender and larger brokers were all sending the same message that the key is to regulate advice. The Treasury initially misjudged the importance of advice and it is nice to seem them recognise this. Lenders will still look very carefully at who they do business with. Larger firms might find the new regime easier as they have the systems in place."

London & Country mortgage specialist David Hollingworth: "At the end of the day this will benefit consumers. Hopefully it will raise standards but this could hurt smaller brokers. This will put back N3 to start with."

Recommended

Dazed and confused

Since the Chancellor&#39s pre-Budget statement, domestic political attention has been focused on the NHS. Almost unnoticed in his report was a new commitment to massively increase means-tested welfare spending on pensioners – by £2bn in 2004/05 and successively larger amounts in the future.This, however, increases the complexity in an already opaque system, which has implications […]

Web plans open door to Europe

IFAs will be able to conduct business over the web anywhere in the EU using their FSA authorisation if Treasury proposals released this week are implemented.The Treasury has released a paper, Implementation of the E-Commerce Directive in Financial Services, which discusses ways to put into practice the EU directive aimed at facilitating a Europe-wide market […]

CML surprised by Government decision

The CML says it was surprised by the announcement made by Treasury economic secretary Ruth Kelly that she intends to include advice in the regulation of mortgages. A spokesman says as late as last week FSA managing director John Tiner gave no indication of the change in policy when he spoke to the CML&#39s annual […]

Genesis – Planet & Moons Earth Fixed 85 Per Cent

Monday, December 17, 2001.Fixed term: Until January 1, 2003.Fixed rate: 6.99 per cent.Minimum loan: £35,000.Maximum loan: Up to 85 per cent of valuation subject to a maximumof £200,000.Income multiples: 3.5 times principal income plus second or threetimes joint.Arrangement fee: £395.Redemption fee: 6 per cent of amount repaid in years one and two, 5per cent in […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm

    Email: customerservices@moneymarketing.com