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Consumers Association names and shames lenders

The Consumers Association has named and shamed the top ten worst offenders for mortgage scams.

The ten which have received most complaints over their practises are in descending order Halifax, Abbey National, Northern Rock, Woolwich, Nationwide, NatWest, Alliance & Leicester, Bristol & West, Bradford & Bingley and Barclays.

The most complaints received concerned excessive redemption penalties, these totalled 58 per cent of all complaints.

Interest calculations were also high on the complaints agenda with 17 per cent as were compulsory insurance&#39s which received 7 per cent of the total.

Consumers&#39 Association director Sheila McKechnie says: &#34Our findings today show that the mortgage industry needs an urgent dose of regulation to correct its many ills.

&#34We urge the Government to act on our recommendations and take the only sensible step and regulate this industry to ensure consumers get fair mortgages.&#34


CML warns of the dangers of Cat marking

The Council of Mortgage Lenders is warning that Cat standard mortgages may not be the most appropriate loan type for all borrowers.The CML says it is important borrowers understand that a Cat standard mortgage is not a guarantee it is the most suitable loan to meet their needs and is not a substitute for taking […]

Canada Life launches high income bond

Canada Life is launching a high income bond guaranteed to 10.5 per cent over a three-year period.The High Income Bond Series II will be launched on November 1 1999 with “early bird” bonuses increasing the amount invested by up to 0.6 per cent.Capital return is linked to the Dow Jones Eurostoxx 50 Index.In the income […]

&#39League tables will lead to misbuying&#39

The financial services industry is warning that Government plans to forcethe FSA to publish product league tables will lead to a misbuy ingepidemic.Experts fear consumers will believe that the tables are officiallyendorsed best-buy tables and will shun advice.Some industry figures also feel the tables make the scope of the FSA toowide, putting it in the […]

We are the IFA&#39s favourite

Money Marketing has been voted overwhelmingly the IFAs&#39 favouritenewspaper for the fourth successive year in the only independent readershipresearch carried out for the industry.Money Marketing is top for news, usefulness, comparative productinformation, credibility and authority.The research, by Plus Four Market Research for PIMS organiser RichmondEvents, was the result of a survey of 344 key IFAs […]

Key themes for 2017

Capital Market Notes, December 2016 Dave Lafferty, chief market strategist at Natixis Global Asset Management, assesses the accuracy of his 2016 outlook and provides his thoughts and outlook for 2017. Click here to read the full article


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