The Council of Mortgage Lenders says gross mortgage lending slowed down to £25bn in August, 13 per cent lower than in July where it stood at £28.9bn. This is in contrast to last month when lending was up by 3 per cent on the previous month's figure of £28.2bn. Additionally, the Royal Institution of Chartered Surveyors says potential buyers are being more wary although it rules out a market crash. RICS says buyer enquiries in August were down for the fourth month in a row.
IFAs are pressing for a shake-up of the Financial Ombudsman Service's system of case fees for dealing with complaints. At a round table meeting with chief ombudsman Walter Merricks hosted by Money Marketing, Hamptons International Mortgages managing director Kevin Duffy said the payment of case fees should be proportional to the costs generated by the […]
Newly appointed Work and Pensions Secretary Alan Johnson has hit the ground running by contacting the boards of major life companies directly to ask them to put together policy proposals. He has asked many of the UK's life office directors to provide their views and suggestions on compulsion, pension reform, stakeholder, pension credit and simplification. […]
Investment trusts are set to become available on a wrap platform being developed by the AITC. It is working on a technology package that will enable intermediaries to access a range of investment trusts instantly. Director general Daniel Godfrey says a wrap product, similar to that developed by Transact, is being developed. It would be […]
Scottish Equitable Protect is relaunching its marketing campaign for its smart underwriting service for the IFA market. The relaunch will emph-asise the increase in efficiency with smart underwriting and increase flexibility for IFAs and includes a new version of ScotEq's Underwriting Today protection magazine. Aegon UK head of underwriting Matt Rann says the aim is […]
The rollout of Fit for Work (FFW) has now started in England and Wales.
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The Financial Ombudsman Service will be reviewed by an independent person following claims of poor staff training and alleged biases in its decisions that were exposed in a recent Channel 4 investigation. Treasury Committee chair Nicky Morgan wrote to FOS chief executive Caroline Wayman on 13 March asking for more information about the findings of […]
There are numerous trip hazards with carry forward but more clients will want to be looking at it Many believe the annual allowance will be fair game for the chancellor soon, as one of the least painful and least complex reductions in cost to the Treasury. As such, the need to contribute while clients can and […]
The world is a challenging place for a traditional one-man (or -woman) band Increased regulation and rising costs are leading to a growing number of mid-sized adviser firms. Sole trader and two-handed businesses are becoming rarer as changing rules and client demands present a greater challenge for smaller firms. Between compliance, technology and the implementation […]