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OFT warns against regulatory costs falling on the vulnerable

The OFT is calling for policy changes to stop the cost of financial services regulation impacting disproportionately on vulnerable consumers.

It says current banking and insurance practices are excluding millions of low-income households from essential financial services.

Director general John Bridgeman says: &#34A new commitment from Government, regulators and industry is needed to improve the economic welfare of those on low or volatile incomes, ethnic minorities and the disabled.

&#34Such people are being left behind in an expanding market where the choice is between a range of complex and highly regulate products primarily aimed at relatively well off and low risk consumers.&#34


HMC launches new mortgage

Household Mortgage Corporation is launching a three year fixed-rate mortgage at 5.5 per cent which will only be available through intermediaries.Customers are required to take HMC&#39s Buildings Only Insurance for the duration of the fixed period to qualify for the 5.5 per cent rate. Customers making their own insurance arrangements will be offered a rate […]

AIM Newsletter recommends six

The AIM newsletter which provides independent guidance to investing in AIM shares is recommending six companies which should come through difficult market conditions.The six are IT specialist SBS Group, software designer Staffware, pawnbrokers Albemarle & Bond, Dragon&#39s Health Clubs, housing consultancy specialist HACAS Group and fund manager Farlake.


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