Mortgages plc has suspended all its heavy and unlimited adverse products in its latest criteria change. It will also be reducing maximum loan to value on its medium adverse range from 85 per cent to 80 per cent and maximum LTVs on its light adverse from 85 per cent to 90 per cent.
Equity Income Fund
The tripartite arrangement between the Bank of England, the FSA and the Treasury that was designed to maintain financial stability failed its first big test, according to the CBI.
Ascent Fund Managers is introducing a fund that will invest in residential property on Florida’s Gulf Coast.The company is seeking to raise 15m for the Ascent 07 Florida property fund.With up to 70 per cent gearing, Ascent will aim to create a 50m fund to acquire resort-style, amenityrich second homes and principal residences.The objective of […]
Leading mortgage brokers say Northern Rock’s management must take responsibility for the narrowness of its funding policy and for failing to have a disaster recovery plan.At the round table debate, Robert Sterling managing director Kevin Duffy said the firm must take responsibility for its problems, noting this warning comes from the intermediary market where Northern […]
By Fiona Tait, Pension Specialist Royal London firmly believes in the value delivered to clients by financial advisers, not just for one-off events but on an ongoing basis. This is a position we continue to hold in our consultation responses and external communications while always questioning whether there are ways in which we can help […]
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The Financial Services Compensation Scheme will automatically compensate hundreds of clients of a collapsed discretionary fund manager, but other investors will have to wait another five months to get their money back. London-based Beaufort Securities has been investigated by both the FCA and US authorities. An indictment from the US Department of Justice alleges that […]
Fiducia managing director on ‘good old-fashioned’ customer service in the digital world Anthony Scott is adept in the art of communication. As an adviser and a novelist (he has written the novels ‘On Ashover Hill’ and ‘The Birthday Gift’) it is crucial for the Fiducia Group managing director to engage and build a rapport with […]
The FCA has reiterated its warnings that advisers outsourcing defined benefit transfer advice to firms with relevant qualifications cannot divorce themselves from responsibility for the eventual recommendation. While existing FCA rules require additional qualifications to advise on DB transfers, and the FCA has written to all firms who have DB transfer permissions as part of […]