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FSA control over mortgage regulation put back

The Treasury has decided to extend the deadline for the FSA to assume its powers over mortgage regulation by three months to nine months after N2.

The move follows industry fears that not all lenders would be authorised for mortgage business within the previous timetable, which set a March 2002 deadline.

The Treasury says it has not ruled out a further extension and will make a decision nearer the time.


GE Life links to EuroStoxx

GE Life has introduced a fourth version of its high income and growth plan that is also available as an individual savings account and for personal equity plan transfers.This offshore investment is linked to the EuroStoxx 50 index and offers annual income at 10.25 per cent over three years or a monthly option at 0.78 […]

Staffordshire Building Society – 2 Year Stepped Discount 1 Per Cent Cashback

Thursday, 15th March 2001.Type: Discounted rate cashback mortgage.Discounted term: Two years.Discount: Three per cent in first year, two per cent in second year.Payable rate: 6.8 per cent.Minimum loan: £1,000. Remortgages for capital raising £25,001.Maximum loan: Up to 90 per cent of valuation subject to a maximum of £500,000.Income multiples: 2.5 times joint income.Arrangement fee: £125.Redemption […]

Principality flexes its discount muscles

Principality Building Society has brought in the 1.05 per cent base rate tracker flexible mortgage.The mortgage tracks the Bank of England base rate, which is currently 5.75 per cent. For the first six months of the loan, until October 30, 2001 it will have a rate of 1.05 per cent discounted from the base rate, […]

VERITY&#39S VIEW – March 15th, 2001

In the outcry over with-profits policies, both the ABI and the FSA have to be seen to be paying attention. So, they have been calling for the industry to make sure it is giving customers “clear explanations of how with-profits works”. To all those conscientious IFAs who want to respond to this – good luck. […]


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