View more on these topics

Loan rules guide for IFAs

Britannic Money is publishing a guide for intermediaries explaining how they will be affected by the FSA&#39s proposals for mortgage regulation contained in CP146.

The new rules are currently under consultation by the regulator and are set to come into force in the middle of 2004 but Britannic is urging brokers to start considering the impact now.

The first section of the booklet, Regulation and You, explains that some areas will remain outside the FSA&#39s regime, notably commercial mortgages, including buy-to-let and second-charge loans.

It then goes on to cover issues such as what constitutes good advice, the need for the advice process to be made clear for clients and the introduction of standard pre-application illustrations to make it easy for consumers to compare products.

It concludes by telling brokers they can have their say about the shape of regulation by going to the current consultations section on the FSA&#39s website at www.fsa.org.uk.

Chief executive Tony Ward says: “It is imperative that the mortgage intermediary understands how they will be regulated in the future and what impact this will have on their business. This guide is an excellent starting point for any adviser to be better informed and get involved in the consultation process.”

DOCB:

SRCE: Money Marketing

PDAT: 171002

SCTN: News

PGNO: 22

RANK:

HDLN: Hotspots moving North

SBHD:

BYLN: Rosemary Gallagher

TEXT:

London is no longer the property hotspot of the UK and does not even appear among the top 10 in England, according to the latest Halifax house price index.

Halifax&#39s analysis of the housing market for the third quarter of the year reveals that half of the fastest rising property prices over the last year were in towns in the North or the Midlands.

But Loughton in Essex still manages to top the table, with the average house price rising by an astonishing 75 per cent to £298,413 from £170,664 compared with last year.

The only other area in the South-east to appear in the top 10 is St Leonards-on-Sea, which appears in ninth place, with the average house price rising by 55 per cent to £133,996 from £86,529.

Smethwick in the West Midlands is second in the table, with average prices increasing by 68 per cent to £94,264 from £56,194.

Third is Pontypridd in Wales, where prices rose by 65 per cent to £84,742 from £51,417.

At number 10 is Taunton in the South-west, where house prices increased by 54 per cent to £185,995 from £120,553.

Group economist Martin Ellis says: “These figures show that the top hotspots are not just found in those regions which have seen the biggest growth as a whole.

“The fact that half of the towns appearing in the top 10 are in the North reflects the greater capacity for house price growth in these towns and the rapid redevelopment of cities such as Newcastle, Leeds and Manchester.”

Recommended

Berkeley tops network survey

Berkeley Independent Advisers has topped a survey of satisfaction among IFA network members for the seventh year.The annual survey, carried out by Henry Samuels Marketing Services, rated the level of satisfaction on 11 criteria through telephone interviews with 425 network members from the 13 main networks.During the interviews, carried out in June and July, members […]

In the offing

The Diary would like to praise the outgoing managing director of UK financial services at AMP, Tom Fraser, for a remarkably refreshing attitude to press relations displayed at the ABI awards dinner.When questioned by a Mail journalist about his future, the antipodean head honcho might have laughed off such rumours with a cheerful: “No comment, […]

Brave new world of defined-contribution pensions

The Pensions Management Institute is holding a seminar on defined contribution plans on October 30 in central London.The seminar, which is aimed at pensions professionals and finance or HR directors, will provide an update on the issues surrounding defined contributions and how plans are being used to meet the needs of employers and employees.Speakers will […]

ScotEq roadshows to discuss future of pensions

Scottish Equitable says simplification and change will be the key themes of its pension roadshows in November.Sixteen roadshows around the country will focus on the implications for IFAs of the Pickering and Sandler reviews and what might be expected from the pension Green Paper.Topics covered will include pension simplification, employment law, annuities, bridging the savings […]

Happy while you work

Well we’ve had scorching weather (yes even up here in Scotland!) and now the Euros 2016 are on – you can’t blame people for wishing life was just one big holiday.  With all these distractions it sometimes feels like work just gets in the way of having a good time! But sunny day skivers are […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm

    Email: customerservices@moneymarketing.com