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Infinity Mortgages chief executive says lenders have no excuses

Infinity Mortgages chief executive Matt Gilmour says lenders have no excuses not to be ready for mortgage regulation on Monday November 1.

Gilmour says those lenders who have not tested their systems for an extended period before M-Day may face up to two weeks&#39 worth of chaos.

Infinity Mortgages has been ready with its KFIs for brokers to view and get used to since September 23.

Gilmour says: “A lot of our competitors are not ready. And to be completely honest, it&#39s disgusting. With all their resources and millions of pounds, they should be ready. Comparatively, we have been running or shop on a shoestring.”


FSA cuts mortgage firms&#39 FSCS levy by nearly half

Mortgage intermediaries&#39 contributions to the Financial Services Compensation Scheme will be almost half the amount originally proposed. When statutory mortgage regulation starts next week, mortgage intermediaries will be subject to FSA, Financial Ombudsman Service and FSCS fees, just as IFAs currently are. The FSA says the levy that the FSCS will take from mortgage intermediaries […]

First State compelled by China

FIRST STATE INVESTMENTS First State Greater China Growth Fund Type: Ucits Aim: Growth by investing in companies based in or which derive their income from the People&#39s Republic of China, Hong Kong and Taiwan Minimum investment: Lump sum $1,500 Investment split: Hong Kong 45.1%, Taiwan 26.5%, other 28.2%, cash 0.2% Place of registration: Dublin Charges: […]

Key fits for Midshires

Birmingham Midshires is feeling pretty proud of itself as, three weeks before regulation, it had its key features information ready for brokers to view and trial. Head of product strategy Steve Sandiford says: “We have been planning for this for two years. Essentially, everything had to go online and the sheer complexity of getting ready […]

Scottish Provident International – Select Offshore Bond

Type: Offshore portfolio bond Updates: D charging structure with 0.1%-0.5% administration fee, no establishment fees, no valuation fees and no surrender charges added for investments of at least £100,000, capital redemption option now available Contact:


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