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Equity release lending set for record year

Equity release lending rose 21 per cent year-on-year in the third quarter, according to the Equity Release Council. A total of £452.6m was lent in Q3, which was £68.3m more than the previous quarter – the biggest quarterly rise in 11 years. The sector is on course for a record year with lending just £220m […]

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Bank of England fears challenger banks won’t overtake larger rivals

The Bank of England has raised concerns that challenger banks will never be able to overtake their larger, more established rivals. The Daily Telegraph reports comments made by Prudential Regulation Authority chief executive Andrew Bailey to the Treasury select committee that the difference in balance sheets between smaller players and the big banks may be […]

European Commission issues call for evidence on regulatory burdens

The European Commission has issued a consultation on the way financial services businesses are regulated and the burdens of EU legislation. The Commission will take evidence until 6 January, with a particular eye focus on unnecessary regulatory burdens, the interactions of different rules and unintended consequences from requirements. It comes after Bank of England governor […]

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Savers face multi-million losses in Sipp biofuel investment

Sipp investors are facing millions in write downs on a high risk biofuel investment, which has also been linked to a suspected pension liberation scam. HMRC has written to Sipp providers who may have allowed customers to buy shares in Elysian Fuels, which owned a bioethanol plant in the US and a renewable fuels refinery […]

The death of retirement – a boost for protection?

According to our recent report on the death of retirement, changes in workplace pension provision mean that coming generations of retirees could have a radically different experience of retirement from their parents. The average contribution rate into an old-style final salary pension was around 20% of total wages, the statutory minimum for a new automatic […]

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