View more on these topics

Deadline looms for loan advisers

Mortgage advisers have two years to sit exams before professional qualifications bec ome mandatory but the Mortgage Code Compliance Board is hoping the entire industry will sign up by the end of the year.

The official deadline for advisers to obtain the qualification is December 2002 but in the meantime the MCCB says its rules should to be finalised in January and will issue guidelines for firms in February&#39s newsletter.

By September 2001, companies should establish their competence level requirements and May 2002 should see supervisors in place to support unq ualified and trai nee advisers.

MCCB head of communications Brad Baker says the board will continue to promote and publicise the exams and is running a series of roadshows in January and February next year.

He says: “Anyone who intends to trade as a mortgage adviser should at least be registered by this time next year and we hope the whole industry will be registered.”

Recommended

Mercantile fix for customers with cash

The Mercantile Building Society has brought in the 5.99 per cent fixed rate mortgage. The interest rate is fixed at 5.99 per cent for the first two years of the mortgage for loans up to 75 per cent of valuation. After the fixed rate period the mortgage reverts to Mercantile’s standard variable rate, which is […]

Matrix offers UK growth fund discount

Matrix Money Management is offering a one per cent discount on lump sum investments in its Matrix Quantock UK Growth Fund to mark the fifth anniversary of the fund this January. The reduction in the initial charge from 5.2 per cent to 4.2 per cent until April 2001 applies on lump sum direct purchases, Isas […]

Rivals approach Equitable sales staff

Equitable Life&#39s attempts to sell its 450 sales staff are under threat from rivals seeking to poach the most productive staff members. National IFA Inter-Alliance hoped to take over about 300 of the most productive staff and Lighthouse said it was in talks with about 20 Equitable employees. Equitable still hopes to sell its workforce […]

Mutiny on the bounty

Where a person going into local authority care currently owns assets of more than £16,000, the local authority can make a claim on those assets to pay towards the care costs. For this reason, people sometimes consider making gifts of assets prior to going into care. This would bring the question of deliberate deprivation into […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment