Paragon is expected to cease lending on February 28 because its warehouse loan facility is not being renewed. The facility, which funded new lending, failed to secure acceptable terms for the extension of its term but Paragon says assets already funded at that date will remain funded until they mature.
Product providers and advisers have urged caution over a new generation of precipice bonds, warning that investors must fully understand that capital is at risk to ensure the disasters of the past are not repeated.A spate of new launches offer higher headline rate returns in the market but are not 100 per cent capital-protected.Blue Sky […]
The Northern Rock endgame moved a stage closer this week after the Government agreed to convert the stricken lender’s Bank of England loan into state-backed bonds.
The outlook for the UK economy is uncertain. Consensus forecasts for GDP growth at around 2.3 per cent in 2008, down from the expected 3.1 per cent last year, are vulnerable to the effects of problems in commercial credit markets on spending decisions by corporate and consumer borrowers. Of particular concern is the evidence emerging of price weakness in the property market.
Publishing all FOS decisions could set precedents and lead to consumers relying on past decisions to influence the outcome of their case, says Yorkshire Building Society.The society’s response to the Hunt review says the current Ombudsman News publication is more than sufficient for both businesses and consumers.It says: “The society does not agree that the […]
Certification is highly complex and surrounded by a minefield of information and auto-enrolment jargon, which can make it very difficult to understand. However, for many employers it is a necessary process that must be executed successfully.
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The Government should make it easier for advisers to sell products that blend income drawdown with insurance to meet future care costs, according to former pensions minister Steve Webb. A paper published today by Royal London calls on the Government to introduce policy changes which allow new products to be created that pay for long-term […]
Independent governance committees at big-name pension providers are failing to safeguard the interests of savers and the FCA must take action, fresh research finds. In 2015, the FCA required contract-based pension providers to appoint IGCs to act as champions of savers’ interests. IGCs are required to publish annual reports to increase transparency and encourage comparison […]
The FCA is reviewing the content of its pension transfer specialist examination standard in light of recent issues with pension transfer advice, Money Marketing understands. The regulator does not offer qualifications but it does have a role in setting standards for exams and publishes “appropriate examination standards” guidance. Money Marketing understands a working group, mostly […]