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Mortgage Next receives MTA

Mortgage Next has received its minded to authorise letter from the FSA and says it is the final piece in its regulatory jigsaw as it prepares to become a network principal after October 31.

Mortgage Next marketing director Justine Tomlinson says: “We are delighted to receive our MTA letter at long last. This will give many brokers who have been holding back, the confidence to go ahead and submit an application for network membership. It is also a significant landmark for everyone at Mortgage Next who has worked so hard to prepare the company for M Day. We can now look forward to the future with confidence.”


Silent treatment from Woolwich

Two years ago, I placed clients on a two-year discounted mortgage with the Woolwich. Our clients have had their letter stating that they are moving onto the variable rate and are keen to review their mortgage options. It is a good case with a low loan to value ratio and no arrears. Our clients signed […]

IFA calls on advisers to join captive PI scheme

IFA CFS Independent is setting up a captive professional indemnity insurance scheme and is looking for other IFAs to come on board. Managing director Andy Harwood envisages a Guernsey-based scheme with around 50 IFAs all paying an average premium of £15,000, giving a total pot of £750,000. If, as Harwood anticipates, cover of £1.5m is […]

NU wants FSA clarity on orphan assets

Norwich Union has called on the FSA to clarify its position on the procedure for reattribution as it considers sharing the £4.3bn orphan assets in its huge with-profits fund. NU UK life chief executive Gary Withers wants the FSA to spell out its vision of a fair procedure for reattribution, which he says would be […]

Provision priority

The Financial Ombudsman has concerns over reviewable premiums on critical-illness policies. What needs to be done to allay these concerns and what will be the effect on the market? McKie: Our plan offers five-yearly reviewable premiums where only the expectations of future morbidity experience can be reviewed. We appreciate the concerns that the FOS have […]


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