The number of loans made for house purchase rose by 4 per cent to 52,700 in May from April’s figure but remortgaging fell by 14 per cent to 71,000 loans, says the Council of Mortgage Lenders. Remortgaging was down by 23 per cent year on year.
So, the Competition Commission has decided to tackle the problem of payment protection insurance misselling head-on. It is easy to sell and easy to buy, which is why many people are talked into buying it. The trouble is, it is not very good compared with the alternatives.
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.
MPs have encouraged the government to seek innovation and the “great potential gains” of collective defined contribution pension schemes, a report published this morning by the work and pensions committee says. The committee says the schemes, which are already highly successful in Denmark and the Netherlands, offer advantages of a middle ground between defined benefit […]
FCA staff are warming to the regulator’s move from Canary Wharf to Stratford, according to its latest board minutes. Earlier this month, employees began moving to the regulator’s new east London site, with teams such as communications among the first to transition. Money Marketing previously reported on internal documents showing that staff at the FCA […]
The FCA is considering banning exit fees for switching platforms. In its platform market study, released this morning, the FCA says it may also issue further guidance on how advisers should charge for platform switches after finding that the process and the costs involved can often be lengthy, preventing clients from getting the best deal […]