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Treasury releases mortgage CAT standard guidelines

The Treasury Department released its much anticipated guidelines for Cat standard mortgage products this week.

The Cat standard rating is to be extended to some discounted and cashback products. Under the original plans announced in late January, these types of mortgages were excluded.

Other rules state that brokers cannot charge customers fees on Cat standard products and that borrowers should not have to take out a loan of more than £10,000 in order to qualify.

Economic Secretary Melanie Johnson says “Cat standards will be an important part of providing simple, clear easily comparable information to consumers. Even those who choose non-Cat standard products should find them useful as benchmarks to judge how the alternatives measure up.”


Commission not yielding to disclosure

Five years of the disclosure regime have had little impact on IFAcommission, says a PIA report.But it shows that personal pensions have been affected by the proposed 1per cent cap on stakeholder which has caused char ges to fall by as much as75 per cent. The trend in personal pensions is revealed by the drop […]

IFAs don&#39t want to be plankton in network ocean

I felt I had to write to just chip in to the debate on Misys absorbing theIFA Network.I have a great deal of respect for the personnel involved but I have toconfess that I have always had an antipathy to monolithic organisations.I know that “I would say this wouldn&#39t I” but I really do believe […]

Call for the FSA monster to be tamed

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Julian Gibbs

Enterprise investment schemes have benefited from the Budget in thatinvestors can now cash in after three years and still retain their taxrelief and make profits free of capital gains tax. Previously, thequalifying period was five years.The EIS is, of course, more risky than the venture capital trust in thatthe VCT invests in a variety of […]


DB transfer shouldn’t be all-or-nothing

By Steve Webb, director of policy In my recent discussions with advisers, a hot topic has been the growing number of people interested in transferring their defined benefit pension rights into a defined contribution pension scheme. With many pension schemes offering eye-watering transfer values, this is likely to be an area of increasing interest. Yet […]


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