View more on these topics

Regulator’s reviews open up claims, says Cummings

Association of Mortgage Intermediaries director general Chris Cummings has blamed the regulator for the emergence of claim management companies in the mortgage sector.

He believes the plethora of announcements into reviews on different market sectors encourages consumers to claim compensation and be put off products, even if no problems are uncovered.

Loancheck intends to set up a claim service for people who believe they were missold a mortgage.

Cummings says: “Just because the FSA is looking into something, it does not mean that there is a problem. If a market is under review, then even if nothing is done, people think there is no smoke without fire.”

FSA spokesman Robin Gordon Walker says: “We want to be open and transparent.”


Ship sets a course

Our panel consider the prospects for new lender Edeus plus the Ship strategy for qualified advice only on equity release

Purnell rejects PPI’s means-testing claim

The Pensions Policy Institute’s projections for higher levels of means-testing will only come true if the White Paper fails and private savings collapse, says pensions reform minister James Purnell. Speaking at the launch of the PPI’s evaluation of the White Paper, the MP for Stalybridge and Hyde said the institute’s suggestion that up to two-thirds […]

A&L sees boom in mortgage business

Alliance and Leicester has seen a dramatic increase in mortgage business in the first half of 2006.The company saw gross mortgage lending of £6.4bn, 58 per cent higher than in the first half of 2005, and a 4 per cent share of the market. Mortgage redemptions in the first half of 2006 were £3.9bn, an […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment