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N2 on hold until end of November

The date the FSA will get its full authority was pushed back once again last week as Treasury economic secretary Melanie Johnson announced that N2 will not occur until the end of November at the earliest.

Johnson also confirmed that mortgage regulation will go live nine months after N2 in August 2002. The legislative process of the act giving the FSA its powers came one step closer to its conclusion as the scope of the regulator&#39s activities was defined in a Parliamentary committee debate.

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Britannia two-year cap on loan

Britannia Building Society is offering a mortgage capped for the first two years at 4.9 per cent. Benefits include 12 months free unemployment cover and a cash bonus every year under the society&#39s profit-sharing scheme. The mortgage is Mig-free for customers with a 10 per cent deposit. The loan reverts to Britannia&#39s variable rate of […]

Federal Reserve cut not enough for US markets

The US Federal Reserve cut interest rates by 0.5 per cent to 5 per cent yesterday in an attempt to shore up confidence in the US economy.But the move failed to satisfy US markets which had hoped for a larger cut. The Dow Jones Industrial Average fell 2.4 per cent to 9720, its lowest for […]

In sickness and in health

IFAs can expect to be targeted by providers of income protection policies in the near future. Income protection is low on the list of products currently sold by most IFAs but that might change in the post-stakeholder landscape. Given the withering of state provision and the corresponding onus on individuals to take care of themselves, […]

No penalty from A&L flex

Alliance & Leicester has introduced its flexible base rate tracker mortgage that has no arrangement fee or redemption penalties.The mortgage is available for loans of up to 95 per cent of valuation and has an interest rate of 5.74 per cent for the first year. It then remains at 0.95 per cent above the Bank […]

Navigating volatility

The making of any fund can be seen in how it responds to crises and opportunities. In this short video, Head of Multi Asset at Royal London Asset Management Trevor Greetham outlines how the Royal London Global Multi Asset Portfolios or GMAPs navigated through Brexit and the US election cycle. He also highlights the importance […]

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