View more on these topics

Cameron wants Blair to explain U-turn on Hips

David Cameron has called on Tony Blair to explain how the Government got its home information pack proposals so wrong as the Tories demand that the scheme is scrapped altogether.

The Conservative leader used Prime Minister’s questions to attack Blair after the home condition report U-turn, asking how housing minister Yvette Cooper can warn of the “significant risks” of Hips after months of praising them.

Cameron said: “For months we were told about the benefits of the reports and now we are being told the
disadvantages. Why did ministers get it so wrong?”

Tory Shadow housing minister Michael Gove called for Hips to be scrapped altogether and described the change in policy as “an obituary to the Government’s plans to tie up the housing market in red tape”.

Gove told MPs that the central part of Hips had been demolished and that although improvements were needed in the conveyancing system, Hips are not the answer.

He used the example of the Northern Ireland office to show that you could comply with the EU directive requiring energy certificates without the need for Hips.

Gove asked the Government to explain what will happen to home inspectors who have trained or are being trained but Cooper refused to support calls to refund these people.

Gove ridiculed Cooper’s statement that there could be a return to mandatory home condition reports if the industry did not get its act together, suggesting that no one would now be foolish enough to train as a home inspector.

Gove said: “The minister has come to the house today not to praise Hips, as she may have anticipated a week ago, but to bury them.”


Fidelity special sits shareholders vote yes to split

Fidelity has received resounding backing from special situations shareholders to split the fund in two.The special shareholder meeting saw an unprecedented 88,000 take part in the voting process with 97 per cent voting in favour of splitting the 6.5n fund in two, one with the current mandate and the other a new global mandate. Fidelity […]

B&B sets aside £89.4m for mortgage endowment claims as complaints soar

Bradford & Bingley has announced that it is to set aside a further £89.4m to deal with compensation for endowment and investment mis-selling.The announcement comes just as the FSA is expected to confirm that the industry as paid out £2.2bn in compensation for mis-selling of endowment mortgages, doubling over the past 18 months. B&B had […]

Regulator’s reviews open up claims, says Cummings

Association of Mortgage Intermediaries director general Chris Cummings has blamed the regulator for the emergence of claim management companies in the mortgage sector. He believes the plethora of announcements into reviews on different market sectors encourages consumers to claim compensation and be put off products, even if no problems are uncovered. Loancheck intends to set […]

Stockton’s remit widened in HBOS shake-up

Halifax General Insurance has today announced that its general insurance intermediary sales team is set to join forces with HBOS mortgage intermediaries. It will result in a larger sales force to provide advice on both mortgages and insurance products.Managing director of mortgage intermediaries Nigel Stockton will assume responsibility for the distribution of general insurance intermediary […]

Budget summary – March 2016

This week’s Budget looked as if it would be a difficult one for the Chancellor, with disappointing economic numbers and the need to avoid ruffling feathers ahead of June’s in/out referendum. Nevertheless, Mr Osborne did spring a few surprises, including some tax reductions. So how does this budget affect you? If you are – or […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    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