Mortgage lending was £1bn lower in May than in April, according to the Council of Mortgage Lenders.
Gross lending amounted to £23.8bn in May, down from £24.8bn in April but still nearly 9 per cent higher than in May last year.
The number of house purchase loans fell to 103,000 in May from 118,000 in April. 31 per cent of these loans were to first-time buyers, compared with 28 per cent in April
The article on Lifesearch's response to the Consumers' Association report on poor critical illness advice was accurate (Money Marketing, June 10) but the headline was somewhat dramatised. Lifesearch did not “slam” the Consumers' Association report. In fact, we praised more than we criticised but we did ask them to stop slandering all financial advisers when […]
Recent news reports indicate that the attempts by the FSA to pull together a satisfactory compensation fund from the 21 firms involved in the split-capital investment trust debacle have failed and as a result, “in the months ahead, the FSA may find itself embroiled in several legal battles concerning splits, including the upcoming tribunal of […]
Chancellor Gordon Brown has moved to counter Bank of England Governor Mervyn King's warning of increased falls in the housing market. In an interview with GMTV Brown underlined the importance of keeping stability in the housing market and the wider economy. The interview followed a speech used by the Chancellor's chief economic adviser to Ed […]
Mortgage Intelligence is offering mortgage intermediaries free membership to its network, prompting claims that it is a panic move. The offer applies until October 31 and applies both to its Spirit solution for appointed representatives and Vantage for directly authorised intermediaries. Mortgage Intelligence believes that intermediaries are delaying making a decision about which network to […]
The pace of change in the pension’s space has been little short of astonishing, and has left thousands of employers struggling to keep their pension policy compliant, and also on the right side of current best practice and governance. Many employers, and indeed many in the pensions industry itself, would like to see a period of no change during the next term of government. This would give all sides a chance to catch up and draw breath.
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The Financial Services Compensation Scheme will automatically compensate hundreds of clients of a collapsed discretionary fund manager, but other investors will have to wait another five months to get their money back. London-based Beaufort Securities has been investigated by both the FCA and US authorities. An indictment from the US Department of Justice alleges that […]
Fiducia managing director on ‘good old-fashioned’ customer service in the digital world Anthony Scott is adept in the art of communication. As an adviser and a novelist (he has written the novels ‘On Ashover Hill’ and ‘The Birthday Gift’) it is crucial for the Fiducia Group managing director to engage and build a rapport with […]
The FCA has reiterated its warnings that advisers outsourcing defined benefit transfer advice to firms with relevant qualifications cannot divorce themselves from responsibility for the eventual recommendation. While existing FCA rules require additional qualifications to advise on DB transfers, and the FCA has written to all firms who have DB transfer permissions as part of […]
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