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Hamptons sold, as it demands exit fee re-think

Hamptons International has been sold to Dubai-based Emaar Properties for 82m.

Hamptons, whose brand name and management structure will be unaffected, had previously been owned by Singapore-listed Wheelock Properties.

Hamptons International residential development and investment chief executive Jonathan Seal says: Emaars acquisition of Hamptons gives us a tremendously strong platform to replicate our business success within the UK, Europe and other regions across the world.

In a separate development, Hamptons International Mortgages director Jonathan Cornell thinks lenders should take on exit fees from the previous lender to get closer to the FSAs TCF principles, following the recent controversy over such charges.

He says: In an increasingly competitive mortgage market lenders are already taking on the upfront costs of a new mortgage, such as valuations and conveyancing in order to attract clients. Surely the logical next step is for them to take on a borrowers exit fees from their previous lender.

Only through such forthright measures will real pressure be placed on the industry to readdress and eradicate the disproportionate nature of such fees.


Critics round on the regulator

Guy Anker says the FSA is coming under increasing accusations of unsettling the industry and encouraging complaints from borrowers

Out of context

“Nudist beaches are very good places for maintaining eye contact.”
IFG’s Donna Bradshaw

“You, too, would be on the floor cross-legged after six pints of Mansfield Bitter. Scratchings, anyone?”
Mansfield Building Society’s Pete Doherty

I am absolutely ravishing.”
Skandia PR Alex Jones struggles to find the right word to communicate that he is hungry.

“Er, we seem to have lost our pensions guy.”

Jones again, realising that Skandia was one man down on arrival at Southampton from Cowes.

Government clinging to the notion of stakeholder success

The Government is still clinging to its view that stakeholder pensions have been a success despite criticism of the regime from MPs, trade bodies and the FSA. Responding to a Treasury select committee report on NPSS regulation, the Government says stakeholder pensions have been a success in reaching their target audience. It says over 2.7 […]

Watchdog slams DWP’s inadequate consumer information

The Department for Work and Pensions has been criticised for failing to make adequate information available to pensioners and disabled people. The National Audit Office and work and pensions select committee say they found the DWP’s pension information leaflets for these two groups very difficult to obtain. Their findings cast doubts over the Government’s ability […]

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Guide: how to… audit your auto-enrolment scheme compliance

As the Pensions Regulator starts to bare its teeth and the changes mentioned in the Budget and Queen’s Speech start to come into force, it is essential that you understand your scheme and the processes you need to undertake to ensure it remains compliant. Our second re-enrolment guide looks at how to audit the key areas of your auto-enrolment scheme.


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