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CML in Euro warning

The Council of Mortgage Lenders has warned the European Commission to concentrate on macro-economic policies rather than retail mortgage regulation. It has warned of “harmful, unintended consequences” on the UK economy if it conflicts with FSA proposals. The CML also warns the FSA should not press ahead with plans to restrict lending by building societies before completing its mortgage market review.

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Scot Prov pays 93% of CI claims

Scottish Provident paid out 93 per cent of all critical illness claims made between January and June this year, up six per cent on the same period last year.

Flipping the figures

This has been really rather a remarkable summer, markets-wise. By the middle of last week, the FTSE 100 index was flirting with 5,000 – a level not seen since the dark days of last autumn. The recovery from lows of less than six months ago has been a staggering 40 per cent. In the US, it has been even greater. If this truly has been only a bear market rally, then you still would have been very wrong to ignore it.

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