Analyst Datamonitor says gross mortgage lending advances increased by 40.6 per cent to £21.8 billion in July this year from £15.5bn at the same time last year. In its “UK Mortgages 2002: Going from strength to strength?' report it says rapidly increasing house prices and low interest rates have been the principal market drivers in the growth, although low unemployment, insufficient new housing supply and poor stock market returns have contributed to property market buoyancy.
Eye-fa, a new IFA dedicated web directory, has been set up with the aim of enabling advisers to complete all their business transactions online.The site, www.eye-fa.co.uk, aims to help IFAs take advantage of the increasing number of facilities for intermediaries available online and aims to have most product providers signed up by the end of […]
Perhaps Luke March should approach Estelle Morris to supervise the remaining period until the December 31 deadline for mortgage advisers to achieve their minimum qualification.Then we could be confident that the deadline will pass without anyone knowing where they stand. We could revise the standards continually until the right political solution is found.However, just like […]
Scottish Provident has added children's income and immediate cash benefits to its Self Assurance range, which it says gives policyholders more protection than offered by its rivals.ScotProv says the two new benefits, launched this week, are intended to cater for a gap in the protection market and will be included free to customers taking out […]
Berkeley Berry Birch group deputy chief executive Steve Ingledew has a lot on his plate. Not only is the firm planning to raise £20m to fund an ambitious acquisition programme but Ingledew has an urgent deadline – the birth of his new baby next month.When Ingledew graduated from Sussex University in 1984 with a degree […]
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The curious goings-on in the world of financial services
Experts have played down any immediate moves from the FCA towards those firms that are not prepared for Mifid II regulation that comes into force on 3 January 2018. However, concerns remain that a “material number” of small asset managers have not yet started preparing for the major European regulation. The FCA expects firms to […]
OMGI chief executive and star fund manager Richard Buxton is set to lead a management buyout of the single-strategy funds division of Old Mutual Wealth with the backing of TA Associates. The £550m deal is set to be announced before Christmas, Sky News reports. The buyout is part of Old Mutual’s managed separation, which is […]