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Court challenge over lender rates

The discretion mortgage lenders have to set interest rates at will could be blown apart this week in a test case at the Court of Appeal.

A married couple are challenging the right of their lender, Paragon Mortgages, to refuse to lower their interest rate in line with cuts to the Bank of England base rate, despite not being locked in a special deal.

The three lord chief justices hearing the case are expected to announce their decision this week.


Sarasin&#39s Jennings moves to Morley

Institutional fund manager Morley has poached Sarasin EquiSar manager Michael Jennings to head up its new global thematic investment division.Jennings, who has been at Sarasin for 13 years, will take up his new position in two months.Sarasin chief investment officer Guy Monson will now assume control of the EquiSar fund.

Credit Suisse AM launches boutique fund of funds

Credit Suisse Asset Management Funds UK is launching a fund of boutique-style funds directly marketed at IFAs and investors.The Credit Suisse Multi Manager Constellation Portfolio aims to give investors access to talented fund managers who have left mainstream investment houses as well as smaller funds less constrained by benchmarks.CSAM director Robert Burdett says: “With less […]

Scot Am mortgage club hits £7bn mark

Scottish Amicable’s mortgage club has announced it originated over £7bn worth of homeloan applications in the first six months of the year. The club, which comprises more than 30 lenders, has so far completed £4.5bn of the applications but expects this figure to rise over the coming months as the most recent applications go through. […]

Rise in IFA business lifts gloom at Misys

The 19 per cent organic growth rate achieved by Misys&#39 IFA business in thelast year helped make it the company&#39s best performing sector. But despite the success of the financial services division, Misys&#39 shareprice plummeted from 532p to 308p following the announcement of its annualresults last week. The figures came on the back of poor […]

Trouble ahead - thumbnail

Pensions: trouble ahead?

The pace of change in the pension’s space has been little short of astonishing, and has left thousands of employers struggling to keep their pension policy compliant, and also on the right side of current best practice and governance. Many employers, and indeed many in the pensions industry itself, would like to see a period of no change during the next term of government. This would give all sides a chance to catch up and draw breath. 


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