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Genesis adds affiliate status

Genesis has extended its franchise and license proposition to include affiliate status for smaller networks. As an affiliate, a smaller network can continue to manage a network of brokers, whilst receiving regulatory support from Genesis. The scheme is designed to appeal to small networks who do not have the financial resources or compliance to support ARs after M-Day or for networks yet to receive their MTA letters.

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FSA warns of more precipice penalties

Regulators have warned IFAs and company directors to brace themselves for further punishment over precipice bonds. The FSA says firms should watch for more penalties for firms which missold precipice bonds such as David M Aaron (Personal Financial Planners) which was banned this week. The FSA says it has not closed the file on the […]

Lenders rethink BTL criteria

Rising interest rates are putting pressure on buy-to-let lenders to revise their lending criteria, says Moneyfacts. The Mortgage Works has cut its maximum rental income ratio for BTL mortgages from 130 per cent to 125 per cent. Earlier this year, the firm reduced its nominal rate for calculating income ratios from bank base rate plus […]

Ex-board members say merger failure would be a disaster

If the merger between Sofa and the LIA fails to go ahead it will be disastrous for the industry, according to former board members of both organisations. Ex-Sofa director Jo Smith says the merger is for the good of the industry, and if it is rejected by the membership it will be humiliating. She says: […]

Smart New Homes sees the housing market stabilising

New data released by SmartNewHomes, the homes website, shows the average price of a new property in August was £277,445 up by 1.8 per cent over the last month. The figures suggest the seasonal slowdown is drawing to a close and confidence is returning to the market. The price homebuyers are willing to pay has […]

State of the markets: global growth

In conversation with journalist Alexis Xydias, Artemis Global Growth Fund manager Peter Saacke discusses the state of global markets and how he is positioning his fund. Peter gives his views on the growth potential of US, Europe and emerging markets, each of which is on a different stage of the road to recovery. And with a […]

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