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FSA in self-cert salary warning

The FSA is warning consumers who inflate their income for a self-certified mortgage that they are committing a criminal offence.

The message follows a mystery-shopping exercise showing three out of 41 mortgage brokers visited were prepared to discuss how clients could inflate their salary.

The FSA hopes to drive home the message to consumers they could be committing fraud as well as being left with a loan they cannot afford. Its new mortgage website, www. mortgageslaidbare. info, urges borrowers to ensure they disclose all income and outgoings.

The Mortgage Practitioner sole trader Danny Lovey says: “There is a major misconception that self-cert is for those who do not have sufficient income rather than those who just cannot prove all of their income. This is putting brokers in a really difficult position.”


Support growing for Rifkind’s annuity bill

Shadow Work and Pensions Secretary Malcolm Rifkind’s Rights of Savers Bill moves to comm-ittee stage next week amid speculation that a consensus could be developing around at least parts of the bill. The private member’s bill proposes axing some annu- ity rules, increasing the port- ability of company pensions and introducing a savings and retirement […]

‘Central system would flood the stockmarket’

A centralised pension investment scheme could flood the UK stockmarket with cash and artificially inflate share prices. Hargreaves Lansdown head of research Mark Dampier says a centralised scheme pouring money into the UK stockmarket will have a similar impact to trackers in the late 1990s, resulting in large-cap stock valuations soaring through pressure of demand. […]

Frenzy and enemies

Pointon York Sipp Solutions managing director Christine Hallett believes the media mania over Sipp misselling is misguided and fails to recognise the business basics

Pot luck

BGW Jamieson Principal, Jamieson Financial Management, Bognor Regis, West Sussex


What employers should expect over the next five years

A major feature of our articles is looking into the Jelf Employee Benefits crystal ball to predict changes and trends that may influence the short and medium term shape of UK employee benefits.  By flagging such changes early we aim to provide our followers with the tools to make sensible and informed decisions on their benefits offerings.


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