Subprime lender Mortgages plc has bought Genesis for an undisclosed sum. Mortgages plc will have a hands off relationship with Genesis, and the business will continue to be run by Genesis managing director Barry Robson and business development director Nigel Gardner. Genesis comprises branded lender Genesis Home Loans and packager Genesis Mortgage Services.
The FSA says there is no evidence of mortgage application fraud among self-cert lenders. Research from the regulator this week, based on information from 15 major lenders, finds that lenders “generally have adequate controls in place to protect themselves from becoming conduits for mortgage application fraud.” It says genuine self-cert lending only accounts for around […]
Stockbroker Teather & Greenwood is seeking around £5m for its latest film partnership scheme. T&G, which has helped fund UK films including I Capture the Castle and The Heart of Me, starring Helena Bonham Carter and Paul Bettany, has already raised half of the £10m needed to help fund further productions. It is seeking the […]
MGM Assurance is to leave regular bonus rates on its unitised with-profits policies unchanged. This move means bonuses on life funds continue at 3 per cent and on pension funds at 3.5 per cent. The insurer says the move reflects its ongoing commitment as a mutual to with-profits, saying it comes at a time when […]
The Government is believed to be preparing to expand the child trust fund to include an extra nine million children. It is believed that the Inland Revenue has been consulting with the financial services industry over the viability of offering the fund to all children under 16 as a result of pressure from the Treasury […]
Holly Cassell, Assistant Manager of the top-performing Neptune UK Mid Cap Fund, discusses the potential near-term impact of Article 50 and the Brexit negotiations that she believes investors should pay most attention to. Read article here Important information Investment risks Neptune funds may have a high historic volatility rating and past performance is not a […]
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Two company directors have been disqualified for a combined 20 years after running a fine wine investment scam that lost investors nearly £1m. An Insolvency Service investigation found that Crimson Fine Wines cold-called customers and then did not purchase or allocate wines to those who had paid for their investments. The investment scheme offered investors […]
AJ Bell has won a case against a client who wanted his platform fees for the past 14 years reduced. A client, referred to as Mr N, complained to the Pensions Ombudsman that, because he did not have enough information about what fees would be payable, he sold a property holding in his Sipp far […]