View more on these topics

Challenge would benefit loan sector

A market in which one player establishes what seems like an unassailable lead may not be healthy and some intermediaries are concerned this is happening in mainstream mortgages.

One of the UK&#39s best-established mortgage brokers Savills and lively recent arrival Hamptons hope that Abbey National&#39s chief executive Luqman Arnold can back up his “back to basics” words with deeds. They believe Abbey has been an underperforming number two.

Cheltenham & Gloucester and Nationwide continue to do well but Abbey, with its established relationship with intermediaries and strong high-street infrastructure, remains in their eyes the most credible contender.

No one is worried that the top dog is in danger of getting complacent and there is a lot of choice. HBOS chief James Crosby isn&#39t expected to suffer a Tiger Woods-style loss of form while the latest good news for the group is that Intelligent Finance is saying it will break into profit by the end of the year.

A monopoly this isn&#39t – and HBOS doesn&#39t feel like one with so many different arms – but the brokers are right – it will be good for the market if the number two raises its game.

Aifa, having successfully extended its remit to mortgage brokers, is turning to protection, not through the formal structure of Aifa subsidiary the Association of Mortgage Intermediaries but through a statement of intent. Most will either be mortgage intermediaries or IFAs but there is a threat that at some stage the purpose of the &#39i&#39 in Aifa gets lost. There should be a debate about any change in function as a drift to a different type of organisation without proper consultation would not be acceptable to many IFAs.


Willetts blasts Government for lack of solutions on pensions

The Conservatives are calling for bolder initiatives from the Government to bring back confidence in pensions, after the Pensions Ombudsman announced record complaints.Shadow work and pensions secretary David Willetts says the surge in complaints – up to 3891 from 2946 last year – which rose reflects a crisis in confidence in government pension policy.Willetts says: […]

Whips and Spurs

Everybody in the advertising and marketing industry knows that brand loyalty is all about giving the customer value for money, delivery of promises, a high standard of service and convenience. Sadly for advertising mogul Lucian Camp, these are qualities that his favourite brand lacks. The CCHM chairman is, of course, talking about his love for […]

Move to go online gathers pace

The move to get online is continuing to gather momentum in the financial services industry, with 92 per cent of Zurich&#39s non-regulated business now being submitted electronically. Skandia has also processed 35 per cent of its Isa/Pep transfer business electronically within the last tax year.

Half of pensioners have had to cut spending – Prudential

Half of Briton&#39s 10m pensioners have been forced to cut back on their spending over the last three months according to research from the Prudential.More than 2m have gone back to work although the Pru concedes in some cases this could be just to combat boredom, while others could need the cash it says.The findings […]


MPAA consultation

By Fiona Tait, pensions specialist The chancellor’s announcement of proposed cuts to the Money Purchase Annual Allowance means it will be more important than ever to be able to tell your PCLS from your UFPLS What was in the statement? Not much. The chancellor spared three sentences to inform us that the Money Purchase Annual Allowance will be reduced […]


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