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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Adviser trade body Pimfa has called on the government to go forward with the pensions dashboard as rumours swirl that ministers are considering abandoning the idea. Pimfa’s call comes after reports claim work and pensions secretary Esther McVey believes that the pensions dashboard would be a distraction to rolling out universal credit and so should […]
The Money Advice Service will soon be superseded by a new public financial guidance body, rolling it into Pension Wise and The Pensions Advisory Service. Money Marketing looks at some of the key stats for the organisation ahead of the transition.
The year so far has been full of manager and senior staff moves. Earlier this month, eight senior staff at Standard Life Aberdeen left to go to Aviva Investors, to join former Standard Life Investments equities head David Cumming. With moves like this in mind, is a management team or sole manager the better choice? […]
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