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CML urges Treasury to regulate home reversion

The Council of Mortgage Lenders has urged the Treasury to regulate home reversion plans to put them on an equal footing with equity release.

In its response to the Treasury&#39s ongoing consultation into whether it should regulate home reversion, the CML says failure to regulate the market could result in a skewed equity release market that disadvantages consumers, most of whom are elderly and some of whom may be vulnerable.

Senior policy adviser Jackie Bennett says: “Given the sensitive nature of the equity release market, it is essential that the Treasury put in place robust consumer protection measures to bring reversion schemes into line with lifetime mortgages.”


Squirrel sets up mortgage network SQ2

Midlands IFA Squirrel Fin-ancial Management is setting up new mortgage network SQ2. SQ2 offers brokers the choice of taking appointed representative status, introducer status or registered individual status. Other services available from the network are training and compliance support, mortgage packaging, marketing and advertising support and free sourcing software. Packaged panel lenders include Bristol & […]

MCCB reduces fees

The Mortgage Code Compliance Board has announced that the fees for its final six month renewal period are considerably below the pro-rata 2003/4 levels. The renewal fee for an intermediary firm with a single sales person would be £40, a firm with 8 sales staff would pay a fee of £320, firms with 12 sales […]

Friends shows record new business

Friends Provident have reported their best new business figures to date, bucking the industry trend and increasing new business by 14 per cent. The insurer has reported that new sales have increased to £429.2m from £376.7m in 2002 on an annual premium equivalent basis, with life and pension new sales in the fourth quarter up […]

Accountants feel the chill

Financial services industry workers feeling the pressure should maybe take a leaf out of chilled accountants BDO Stoy Hayward, which is offering staff yoga classes in company time. Getting colleagues into the lotus position every Friday morning at the firm&#39s Baker Street ashram is guru Emma Howard, stret-ching the sinews of her work chums into […]

The fifteen-year itch

By Neil Jones Technical support manager with Canada Life’s ican Technical Services Team. Canada Life offers a range of wealth management solutions, including retirement income planning, estate planning and investment solutions from a choice of jurisdictions, including the UK, Isle of Man and Republic of Ireland. The treatment of non-UK domiciles that are resident in […]


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