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Funding strain could see dual pricing return

The FSA has warned funding pressures in the mortgage market could mark a return to aggressive dual-pricing strategies being adopted by lenders.

In its retail conduct risk outlook paper, published this week, the FSA says weak economic growth, falling house prices and reduced levels of mortgage funding combined with fears of unemployment and tight credit conditions made it hard for mortgage intermediaries to stay profitable, with numbers dropping by 10 per cent last year.

“Additional funding pressures in the mortgage market have the potential to trigger a return of the aggressive dual-pricing strategies seen in 2008,” warns the regulator.

Emba group sales and marketing director Mike Fitzgerald says: “We could well see a return to lenders favouring direct business. If lenders get closer to brokers and networks in these hard times, they will reap the rewards when things get better.”



FSA warns of return to aggressive dual pricing

Funding pressures in the mortgage market could trigger the return of aggressive dual pricing strategies, the FSA is warning. The regulator has today published its retail conduct risk outlook, which analyses the main risks facing consumers and firms over the next 12 to 18 months. The report says that mortgage intermediaries, and networks in particular, […]

Premier investment trust in manager change

Premier Fund Managers has reorganised the running of the Premier energy and water investment trust following the impending departure of manager Kevin Scutt. Scutt – who joined Premier in 2005 – was previously co-manager of the Premier global power and water fund and Premier energy and water investment trust. The investment trust will now be […]


Ignis strategic head departs- up to 20 jobs at risk

Ignis Asset Management head of strategic alliances Nick Pogmore has been made redundant and up to 20 staff have been put on consultation as part of a review of the firm’s distribution roles. Pogmore joined Ignis in November 2009 and was responsible for developing relationships with UK fund platforms, life offices, national IFAs and advisory […]


MetLife Assurance appoints Wayne Daniel as chief exec

MetLife Assurance has appointed Wayne Daniel as its new chief executive. Daniel joined MetLife Assurance, which provides risk transfer solutions, in late 2011 as vice president. He succeeds Dan DeKeizer is now vice president of global employee benefits, MetLife. Daniel joined from Credit Suisse, where he was managing director of longevity markets and prior to […]


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