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Should lenders be forced to highlight rivals&#39 rates as part of FSA planned pre-application documents?

“No. As a broker, I do it for my clients. I quote four or five companies and give them illustrations. I can&#39t see why lenders should have to do it as well.”

Peter Rodgers,Peter Rodgers Financial Services

“Of course no. It&#39s not commercial to do

so.” –

Anthony Lewis,Embassy Financial Planning.

“No. It&#39s a load of tosh. It&#39s just barmy. Why should firms in this industry be so restricted whereas other commercial interests don&#39t have to be?”

Clive Balchin,James Trickett & Son

“No. I think it is for us as IFAs to find the client the best rates.”

Bob Cross,Horrox, Cross& Wilkinson

“No. Different lenders fit with different clients&#39 needs and if everyone is advertising everyone else&#39s rates, a client may move to a lender which does not satisfy either their short or long-term needs.”

Carl Hope,Douglas Hope Financial Management

“No. it is totally anti-competitive. On that basis, why don&#39t they make Mercedes advertise BMW prices?”

Simon Webster,Facts & Figures Financial Planning

“No. From an IFA&#39s point of view, we would have already investigated the mortgage that is best for the client so it is just overkill for lenders to have to recommend borrowers shop around.”

Gordon Harvey,H J Pook Insurance Brokers

“Yes, I do. As independent advisers we have to, so I think lenders should too.”

Donna Kalek,The Mortgage People

yes 13%

no 87%


CML anger at &#39absurd&#39 monitoring proposals

The Council of Mortgage Lenders has slammed the FSA for proposing “absurd” regulations forcing lenders to monitor the product information shown to borrowers.The CML, which recently sought clarification from the regulator over the matter, is angry that the FSA is pushing ahead with rules which it claims are impossible for lenders to enforce.The proposals, due […]

Douglas Black

Born: Bicester, Oxfordshire,June 8, 1957 Lives: Pimlico, London with wife, no children. Age: 44. Education: Administration degree at University of Aston, Birmingham. Career: 1978-82: trainee chartered accountant at KPMG, 1982-83: tutor at Financial Training, 1983-85: group accountant at Standard Chart-ered, 1985-88: group financial director at SGL Communications, 1988-94: management consultant at Pricewaterhousecoopers, 1995-96: finance director […]

Henderson High Income Trust sees six month rise

Standard Life has secured new group AVC business from Consignia, formerly the Post Office, which it says could become its largest AVC account.Standard Life will be an additional AVC provider to the Consignia pension plan final salary scheme, which is offered to all of Consignia&#39s 220,000 employees. Standard Life marketing assistant general manager Simon Douglas […]

Clerical closes to GPPs in stakeholder admin crisis

Clerical Medical could struggle to re-establish itself in the group pension market, according to leading pension IFAs, after its stakeholder strategy backfired, forcing its closure to new group business until the first quarter of next year.The company says it has been swamped by unprecedented levels of business after it ruled out cherrypicking of group schemes […]

Retirement - thumbnail

Pension freedoms: stop the scams

At the beginning of 2015, we highlighted that the new pension freedoms that come fully online on 6 April also represent a very attractive opportunity for the criminal fraternity to scam savers out of some, or all, of their accumulated retirement savings.


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