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FOS upholds half of pension advice complaints

The Financial Ombudsman Service upheld 51 per cent of complaints relating to pension advice given by advisers and 43 per cent of complaints about investment advice, according to its 2015/16 annual review. The FOS upheld 26 per cent of complaints relating to banking and credit advice from advisers. Advisers were one of the least complained […]

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Buying a home now more expensive than renting

Savills has warned of a hit to future house price growth as it finds buying a property is now 20 per cent more expensive than renting, according to the FT. Research from the estate agent found that mortgages were around 25 per cent cheaper than renting once the costs of capital repayments in the first […]

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Tom Baigrie: The income protection turnaround has started

Great news. Income protection – the most important yet least sold personal lines insurance policy in our market – was bought by 10 per cent more consumers in 2015 than in the previous year. Never mind the embarrassing base level; the turnaround has started. This has happened because a few passionate experts decided to ignore […]

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FCA to review mortgage advice rules

The FCA will investigate whether its rules around advice reduce competition in the market. Following a call for input on competition in the mortgage market, the regulator has published a feedback statement today saying where advice is lengthy and does not engage the customer, competition can suffer. However, it did stress that its rules on […]

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Steve Webb: is it time for the care pension?

Steve Webb, Director of Policy and External Communications Steve Webb offers a potential solution to the issue of funding long-term care, by asking whether it’s time for the ‘care pension’. The UK’s long-term care system has been steadily spiralling out of control. Around one in four of us is set to spend more than £20,000 […]

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