View more on these topics

Private Label attacks lenders who don&#39t offer redemption penalties for cheating consumers

Private Label is attacking lenders that offer redemption-free products because it says they cheat the consumer.


The mortgage packager says that instead of offering a redemption penalty option many lenders load the potential cost into the mortgage rate. The result is that the borrower has no choice but to pay the cost leaving them in a worse position.


Executive chairman Steven Knight says: &#34The redemption charge that would otherwise be payable is loaded into the rate with redemption-free deals.


&#34This means instead of possibly paying a redemption charge these applicants are definitely paying one via the loading.&#34

Recommended

Consumers&#39 Association wants consumer panel included in bill

The Consumers&#39 Association is urging the Government to place the Financial Services Authority&#39s consumer panel on a statutory footing by devoting a clause to it the forthcoming Act.The Consumers&#39 Association put its proposal to the Treasury Select Committee inquiry into the Financial Services Authority and the Financial Services and Markets Bill.The association is concerned that […]

M&G says aim is to return to positive net sales

M&G says its main objective for next year is to return the group to positive net sales.It is expecting a high demand for Peps in next year&#39s final season.It is also hoping that its individual savings account which it is launching in conjunction with Bank of Scotland in April will be a success with consumers.M&G […]

ABI&#39s third quarter figures show 8 per cent rise in life and pensions business

Demand for life insurance and pension policies is continuing to rise according to the Association of British Insurers.Its third quarter figures sales of new life policies, individual pensions and collective investment schemes rose by 8 per cent to £7.5bn.Single premiums rose by 16 per cent to £4.3bn and new annual premiums rose 8 per cent […]

CML and MCRI condemn Consumers&#39 Association for premature accusations

The Council of Mortgage Lenders and Mortgage Council Register of Intermediaries have hit out at the Consumer Association for being premature in branding the mortgage code a failure.They say the voluntary code which was launched in July 1997 has not been in operation long enough to be judged a success or failure.They say the code […]

Dividend slump? Not if you look globally

By George Boyd-Bowman, Manager of the Neptune Global Income Fund Recent research has indicated that global dividend growth will slump by as much as 50 per cent in 2016. As collapsing commodities hit high-profile dividend payers, George Boyd-Bowman explains why the US and Japan are his top picks for income growth in 2016. Click here […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment