View more on these topics

CML says specialist lenders are working hard on arrears

The Council of Mortgage Lenders says it is surprised at the FSA’s observations on specialist lenders, who it says have been working “extremely hard” to manage arrears.

The FSA’s latest review findings, released today, claim that specialist lenders operate a “one-size-fits-all” approach, focusing too strongly on recovering arrears without reference to borrowers’ circumstances.

The CML is urging the regulator to work constructively with those lenders to ensure there is shared understanding and agreement about the FSA’s requirements.

The CML says it welcomes the FSA’s confirmation that mainstream lenders are largely complying with its arrears and repossessions requirements.
It says: “The mortgage lending industry is making strenuous efforts to ensure that repossession is only taken as a last resort, when other realistic alternatives cannot be found that balance the interests of the borrower and the lender.”


The pot thickens

I am aged 40 and have accrued 17 years in a final-salary pension scheme. I am still in the same employment and my salary is now £150,000. I am currently making AVC contributions of £600 a month. How do I assess if this is the most sensible form of retirement saving, bearing in mind the new lifetime allowance?

Painless extraction

Combining the CGT annual exemption allowance with the part-disposal calculation of gains under collective investments means the above scenario can easily be achieved and extend beyond the return of the original capital invested.

Richard Stevenson

Focus Solutions chief executive Richard Stevenson has seen his career in the IT industry take him round the world but his decision to get involved in the business was only partly premeditated.

Defence mechanism

I am a moderator on a couple of internet forums. The job generally involves making sure that people behave when responding to each other’s comments and observe the rules of that internet community.


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