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Negative equity?

Ominous coincidence of the week? Jennifer Blackwood of Intelligent Finance was having a perfectly pleasant day at a Council of Mortgage Lenders seminar just outside Dorking. As one of the speakers plunged into a speech on the implication of Basel II on mortgage lenders, the heavens opened and a huge thunderstorm raged overhead.

Someone up above may not be impressed with the state of the mortgage market down here. The Diary wonders how much seraphims pay for their own clouds up there.

Urgent diary, urgent diary stop press. At the last minute Diary has finally received communication from Mr Ghiloni. However it seems his claim is not all the events discussed were actually leaving dos at all. Anyway in his own words:

“I have read with interest the diary pieces regarding my departure from Britannic Asset Management and I thought that I should set the record straight. Yes, there have been a number of &#39dos&#39 so far but these have not been related to the &#39how many leaving nights does one man need…&#39 theme that you have been running. Rather they have been my acknowledgment of the fact that &#39my audience&#39 clearly wants me and I do not feel that I can let them down.

At this point in time, given that I do not know what the future holds for me, I have not completed all of the venues for my one man show. There may well be more to come – either as a goodbye or as a celebration.

However, I am sure you are confident the details will be available to you from the &#39sources close to the sources&#39 when the time comes. Indeed, a picture may even turn up.”

Diary is sure that readers cannot wait to get photographic evidence of your, er, performances. Maybe the Edinburgh Fringe Festival next year. Watch this space readers.


Davy resurrects idea of product levy to ease FSCS burden

DBS and SimplyBiz founder Ken Davy is calling on the FSA to introduce a product levy to combat the huge increases IFAs are seeing in their FSCS bills. Davy has written to FSA chairman Callum McCarthy about the increasing burden IFAs are facing in their levies to the Financial Services Compensation Scheme and asking him […]

Tory pension promise not costed- BSA

The Building Societies Association has hit out at promises made by the Conservative Party at their annual conference in Bournemouth to use unclaimed assets in banks and building societies for victims of pension wind ups. The BSA says this is an uncosted policy, as no thorough work has ever been undertaken as to the full […]

FSA puts secret conditions on merger

The FSA has placed secret conditions on the merger of Inter-Alliance and Millfield. In a deal with the FSA, the firms had to agree to a series of restrictions – which the regulator refuses to make public – before a merger was approved. Both firms were issued with a warning notice and a decision notice […]

Around 80% of proxy votes in favour of LIA/Sofa merger

Early indications are positive for a merger between Sofa and the LIA, with proxy votes understood to be overwhelmingly in favour of the proposal. It is believed that as many as 80 per cent of proxy votes so far received by the LIA are in favour of the merger. The proxy votes are sent by […]

IHT: What were you doing in 2009?

One of the best sources of new business is your existing clients and, if they are estate planning clients, regular reviews are needed because people’s inheritance tax (IHT) problems tend to only get worse. Now, not a lot of things remain at the same rate as in 2009. If we turn the clock back, it […]


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