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EU changes to KFI will spark consumer confusion

European changes to the Key Facts Illustration document will create “confusion” among borrowers and could prevent them from comparing deals from different lenders, say experts. The mortgage credit directive comes into force on 21 March 2016 and replaces the KFI in the UK with a new European standardised information sheet. The FCA has given lenders […]

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Housing market has ‘dodged a bullet’ after Labour’s election disaster

Industry experts have hailed the Conservative’s majority in the general election and say the housing market has “dodged a bullet” as the UK avoided voting Labour into power. The Conservatives achieved a comprehensive victory, winning 331 of the 650 seats being contested. Labour came second with 232 seats, followed by the Scottish National Party with […]

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Pensions governance committees ‘retirement homes’ for industry veterans

Consumer champions have branded the new Independent Governance Committees for contract-based schemes “retirement homes for financial services executives, actuaries and investment bankers”. But providers have hit back, claiming the committees provide greater consumer protection than trust-based schemes. The requirement for governance committees to be established for auto-enrolment schemes was introduced following the Office of Fair […]

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D2C platforms attacked over exit fees

Three leading direct-to-consumer platforms that charge exit fees have been accused of making customers pay for their own failure to bring down the costs of transferring assets. Last week, Axa announced customers on its Self Investor platform would be given up to £750 towards the cost of paying exit fees levied by ceding providers. Axa […]

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