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Standard Life Bank cuts proc fees to pay for regulation

Standard Life Bank is cutting the commission band structure for all mortgage business by 0.02 per cent across all bands. Mortgage trail commission will be removed from new business and trail for both business and personal savings will be phased out and replaced by a flat fee structure for business savings only. The changes are in response to regulation.

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Boulger on Mortgages

Compliant financial promotions for mortgages will look very different after regulation. This will affect not only advertisements in the press but also other media such as TV, radio, the internet, leaflets, etc. However, ads in publications with a long shelf-life, such as directories, will not have to comply with the new regulations immediately. If the […]

Enterprise Homeloans receives FSA authorisation

Enterprise Homeloans announces it has received formal authorisation from the FSA to be an arranger. Enterprise is a private company specialising in the marketing and packaging of non-conforming morgages for the Zurich Advice Network and the Zurich Mortgage Network. Enterprise chief executive Michael Clapper says: “In light of the sentients throughout the industry, it would […]

Gang of four

Last week, I summarised four main points for financial advi-sers emerging from the consultation on trust taxation reform: •The proposed anti-avoidance provisions in respect of capital gains made by trustees of bare trusts for minors. •The proposed common definition of a trust. •The proposed definition of settlor-interested trusts and •The proposed common trust residence definition. […]

PFS looks to develop identity after merger gets go-ahead

The Personal Finance Society is developing its corporate identity and branding following the overwhelming yes vote to the merger between the LIA and Sofa. As well as a new logo, work has started on creating a membership register through the merging of the LIA and Sofa databases. The PFS aims to send out membership cards […]

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