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Statutory regime benefits sub-prime market says BM Solutions

BM Solutions director of mortgages Michael Bolton says the sub-prime market, for those with impaired credit records will particulary benefit from statutory mortgage regulation.

He says years ago, the sub-prime market was particularly dominated by hiigh charging and unfair practices.

Bolton says: “It is now up to all parts of the mortgage market to embrace the spirit of regulation. The statutory regime puts the consumer at the heart of the process. Every good business should look to see how they can embrace this ethos throughout their entire organisation.”


Park Row says lenders should have been more open

Park Row managing director of mortgages Kevin Paterson says lenders should have been more open with their information in the lead up to M-Day. Paterson says sourcing systems are suffering because of the attitude of lenders. Paterson says: “The whole industry should be more open as standard.” Paterson also says Park Row will not be […]

Santander chief set to replace Arnold at Abbey

Grupo Santander chief financial officer Francesco Gomez-Roldan is set to replace Luqman Arnold as chief executive of Abbey once the acquisition is approved by the FSA. The appointment of Gomez-Roldan is expected to take effect from November 15 subject to FSA approval on November 12. Arnold will continue to work with Santander as a senior […]

FSA fears see smoothed fund ditched from suite

A smoothed with-profits-style fund has been dropped from the stakeholder suite of products because of the FSA&#39s concerns over comparisons with unsmoothed products. The regulator will implement the basic advice regime to support stakeholder products from April next year but although it is confident that investors can understand the concept of smoothing, its consumer testing […]

Clerical Medical launches pre A-Day guide for IFAs

Clerical Medical is launching a printed guide to help financial advisers in the run up to, and through the resultant changes of A-Day. Clerical Medical says that with A-Day taking place in April 2006, this is an ideal time for financial advisers to be reviewing their client base to identify customers that may benefit from […]


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