View more on these topics

CPD: Protection

The latest edition of Newsbrief counts as 1 hour of structured CPD and covers the regulatory and marketplace changes that took place during April 2014. Visit the Money Marketing CPD Centre to answer 10 multiple choice questions and complete this CPD activity. Just click into your CPD Plan and you’ll find each month’s marketplace changes round-up in your activity list.

May CPD Newsbrief — Protection

Newsbrief image

Help to Buy cover challenges advisers

Devraj Ray

Protection advisers are struggling to arrange life cover for borrowers who have bought through the Help to Buy scheme.

Under the first phase of Help to Buy, which launched in April 2013, borrowers with a 5% deposit and hoping to buy a new-build property can secure a Government loan worth up to 20% of the property value. The loan is interest-free for five years and repayable on sale, with borrowers paying back 20% of the sale price.

This has created challenges for the protection industry, with some advisers claiming they will be reluctant to “over insure” clients for fear of a regulatory crackdown further down the line, and others pointing out that “creating a product based on a particular Government initiative could prove difficult given that there are no guarantees on how long the initiative might remain in place.”

Help to Buy has been extended until 2020, but it has already had a major impact. The number of first-time buyers is now at its highest level for seven years, according to LSL figures, but the size of the average deposit is at a three-year low.

www.moneymarketing.co.uk/news-and-analysis/protection/protection-advisers-struggle-to-arrange-help-to-buylife-cover/2008628.article

May Newsbrief

The latest edition of Newsbrief counts as 1 hour of structured CPD and covers the regulatory and marketplace changes that took place during April 2014. Visit the Money Marketing CPD Centre to answer 10 multiple choice questions and complete this CPD activity.

Just click into your CPD Plan and you’ll find each month’s marketplace changes round-up in your activity list.

Not yet registered? Join for free today at www.ifacpd.com and access more than 35 hours of independent, accredited CPD learning content. 

Learning objectives (full list of ApEx standards covered below)

Recommended

HMRC ad campaign

Platforms question how HMRC tax recovery powers will work in practice

Platforms have questioned how plans to allow HM Revenue & Customs to recover debts from stocks and shares Isas will work in practice. In the Budget, the Government proposed allowing HMRC to recover tax owed directly from debtors’ bank accounts. Last week, HMRC published a consultation on the subject and said the power should be […]

Justice-Fine-Ban-Court-Gavel-Judge-700x450.jpg
11

Uninsured advisers could become lead cases in Keydata legal battle

Adviser firms without insurance or legal representation could be selected as lead case defendants in the Financial Services Compensation Scheme’s legal battle against advisers under radical proposals being drawn up by the FSCS’s lawyers. Legal experts warn this could see firms racking up legal bills worth hundreds of thousands of pounds which could force them […]

3

Peter Hamilton: How should advisers correct mistakes?

All firms have an obligation under the FCA Handbook to ensure that their communications with customers are clear, fair and not misleading.   We are all human, and we make mistakes. If we say something which is misleading over the phone, will we have adequately complied with our obligations under the rules if we correct […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    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

    Email: customerservices@moneymarketing.com