Three-month Libor has dropped to 3.13 per cent, a fall of 75 basis points since the start of the month. Mortgage lenders welcome the drop but say the 1.13 per cent spread is still too much to improve rates drastically.
The FSA has issued a consumer warning about an unregulated firm, Pure Money Limited, which has been offering mortgage, insurance and investment advice. The regulator is urging anyone who has arranged a mortgage, remortgage, insurance or investment through the company to contact the FSA.
Jubilee Financial Products is publishing a weekly overview of credit default swap levels on its website to help advisers evaluate the counterparty risk of major UK issuers in the structured product market.
The default retirement age (DRA) was abolished more than three years ago, yet new research from Jelf Employee Benefits suggests that the vast majority of employers still have some way to go to fully understand, comply and communicate the landmark legislation change that prevents older employees being forcibly retired on the grounds of age alone.