Rigid complaint-handling rules requiring firms to respond within five working days and give a four-week update are to be scrapped as part of the Newcob consultation and replaced with a requirement that firms respond in a “reasonable time-frame”, Money Marketing understands.
Paymentshield is warning intermediaries to apply due care with MPPI products following the latest reviews of PPI.The provider insists that the same rules must apply when dealing with mortgage-related products as do standard loan repayment insurance. The recent results of OFT and FSA investigations into PPI propose to refer the PPI market, including MPPI, to […]
Cheltenham & Gloucester is relaunching its intermediary website this week. The revamped website will include an affordability calculator, which will enable brokers to get a decision on how much C&G will lend their client without leaving a footprint on their credit record. C&G has also added a news alert service to keep intermediaries abreast of […]
The FSA has fined Loans.co.uk £455,000 for failing to treat its customers fairly when selling PPI in a further sign the regulator is cracking down in this area.The FSA says it found the firm did not have appropriate systems and controls in place to minimise the risk of unsuitable sales.At this week’s Treasury select committee […]
HM Revenue & Customs says it will contact all clients receiving income from a retirement annuity who will be hit by changes to the way their annuities are taxed next year.
By Simon Halifax, senior marketing consultant For a few years now, mortgage advisers have probably been warning their clients that there’s only one direction that the interest rate is going and that’s up (well, I know mine has!). However, the financial landscape changed when the UK voted to leave the European Union last month and […]
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The workplace presents a significant opportunity for advisers, yet many are still shunning this sizable market, experts argue. The pension freedoms and auto-enrolment have increased the unmet need for advice in the workplace. Some larger employers and pension trustees are no longer content to leave employees to fend for themselves among scammers and fraudsters and […]
Neil Woodford has rejected gloomy UK growth forecasts from the Office for Budget Responsibility revealed in yesterday’s budget, arguing the country is on track to achieve annual growth around 2 per cent. According to the OBR, growth this year will be 1.5 per cent, and fall to 1.4 per cent in 2018. Through 2019 and […]
Trade bodies tend to live in a cloistered environment while advisers keep the industry on its toes