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Mortgage market is going to the dogs

What&#39s in store for the mortgage industry this year I wonder? I&#39m certain the FSA and the Treasury will find new and exciting ways to stick a spanner in the works but, hold on, they already have.

The proposals to make lenders police the advice of intermediaries goes a long way to cement the reputation of the FSA as a stupid idea enthusiast. But until Howard Davies comes out of his coma this is going to have a big impact on the market this year, with the big predators looking to consolidate. Be careful out there.

Following the breathtaking success of Cat-standard mortgages, I predict the FSA will introduce a Dog standard in 2001. This will go one step further than its predecessor by actually forcing IFAs to pay the Treasury for the sheer honour of recommending them.

Finally, get your black suits out for the funeral of the moribund CML. Lenders will finally get sick of supplying spiritual Viagra to the impotent trade body and go native by (God forbid) being directly regulated by the FSA.


Clerical meets the low-charge challenge

Clerical Medical is developing a single platform for flexible bond products to compete with the challenge of low charges across the industry brought about by stakeholder. The company says the platform gives it the flexibility to bring products to the market quickly as needs change. Clerical says it is resp onding to the pace of […]

Equitable puts question mark over stakeholder

The insurance industry fears that the Equitable Life debacle will bring public confidence plunging to depths not seen since the height of the pension misselling scandal. The fact that the UK&#39s fourth-biggest insurer and the oldest mutual insurer should close to new business is serious enough in its own right. Now potential investors are going […]

&#39Heir apparent&#39 leaves Widows

The unexpected departure of Scottish Widows deputy chief executive Charles Thomson has stirred speculation that parent com pany Lloyds TSB is lining up someone for the job. There is now no heir apparent to chief executive Mike Ross after losing two deputies within months. His other deputy Bill Main moved to Scottish Widows Investment Partnership […]

ann-marie martyn

Ann-Marie Martyn&#39s decision in April 2000 to leave IFA Promotion to set up her own company, My Money Adviser, saw her career take yet another interesting turn on a varied road. Martyn&#39s position as managing director with My Money Adviser is a far cry from the start of her career as a receptionist with a […]


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