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Watchdog crackdown on mortgage selling

New legislation is to be revealed by Chancellor Gordon Brown next week aimed at tackling mortgage misselling.

Experts are expecting Brown to disclose the new legislation at a private visit to the Financial Services Authority, which is expected to give the regulator direct power on mortgage selling and force the use of Cat standards.

The move follows widely-reported concern over misselling and hidden charges.

In a Commons debate last night, labour MP for Brent North Barry Gardiner says: “I want the products cleaned up. I&#39m fed up with seeing people ripped off.”


Interest rate rise pressure

The Government is bracing itself for further pressure to increase interest rates as a the market witnessed a recruitment frenzy, according to media research experts.The volume of classified advertising in national newspapers grew at its fastest rate of 9.9 per cent in December, according to Media Monitoring Services, the highest rate since May 1998, suggesting […]

Norwich Union Catmark pledge

Norwich Union its “putting its money where its mouth is” by pledging to pay out if its Cat standard funds are out-performed by rivals.NU is promising if any of its four most popular funds don&#39t achieve better than average returns against its competitors, investors will receive a payment into funds equivalent to its annual management […]

Small firms exempt from offering stakeholder

The Government says most employers will not have to offer stakeholders.The Department of Social Security is expected to announce today two thirds of employers &#45 those with less than five employees &#45 will not be forced to offer the Government-backed pension.Government ministers claim only 75,000 of the 5m stakeholder target group who earn £9,000 to […]

Exchange joins forces with Anglo-Dutch firm

Exchange Holdings is joining forces with Anglo-Dutch IT company Computer Management Group to provide IFAs with a one-stop shop.Exchange&#39s financial product quotation system eXweb is linking up with CMG&#39s back office system Professional Independent Adviser and Consultor.The partnership is aiming to provide advisers with a “seamless system” to offer life and pensions quotes to customers […]


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