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MCCB call to advisers over service

The Mortgage Code Compliance Board is appealing for IFAs to own up to what level of service they provide to borrowers looking for a mortgage.

The MCCB says failure by some advisers to disclose whether they were giving advice or just information to clients was the second most common breach of its rules discovered by compliance officers last year.

It says there is a tendency for intermediaries to state they are only providing information when their records show borrowers were prov-ided with advice and a recommendation on a particular mortgage.

The MCCB says the vast majority of these “procedural weaknesses” could be addressed easily if intermediaries referred to information already published under the mortgage code and MCCB Good Practice Notes.


&#39Older IFAs seek escape route from the industry&#39

Most IFAs over 55 would retire now if they could, according to research by Armstrong Neal Financial Solicitors. A survey of 100 IFAs carried out between February and March found that 86 per cent of respondents would leave the industry tomorrow given the chance. Three-quarters claim the regulatory burden is a major factor for them […]

Court confirms PI life sentence facing advisors

A new High Court judgment against a retired IFA has opened the door for millions of policyholders to pursue advisers into retirement over claims of professional negligence. The court&#39s decision in the case of Glaister v Greenwood relaxes the time constraints for when professional negligence claims can be brought, leaving IFAs needing PI cover in […]

Principality goes for a lower rate

Principality Building Society has introduced the 5.89 per cent mortgage.The mortgage has a discount of 1.06 per cent from the society’s standard variable rate for the first five years of the loan, giving it a payable rate of 5.89 per cent for loans of up to 75 per cent of valuation.Aimed at first time buyers […]

Budget bark still worse than bite

With few surprises arising in the Budget, I am going to take a more oblique view of what some of the changes might mean and what action might be profitable for UK taxpayers in a few selected areas. In last week&#39s Money Marketing, I began my Budget coverage by looking at children&#39s tax credit. I […]

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Healthcare predictions for 2015 from Jelf Employee Benefits

The continuing fall-out from the Competition and Markets Authority’s (CMA’s) review, the rise of the private GP and digital engagement will be the primary focuses in the private healthcare industry during 2015, according to Iain Laws, managing director, healthcare and group risk, at Jelf Employee Benefits.


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