West Brom has added a feature to its buy-to-let products which allows surplus disposable income to be used where there are rental shortfalls. Typically the lender will only approve buy-to-let mortgages where the rental is 130 per cent of the mortgage repayment. Now landlords are being offered a mortgage which covers 100 per cent of the interest payment if they have enough equity in the property where they live or disposable income to make up the shortfall.
Hargreaves Lansdown Asset Management has been fined by the FSA for selling its Hargreaves Lansdown Secure Growth Portfolio for a period in 2001. The Secure Growth Portfolio was a specialist portfolio of zero dividend preference shares which HL closed over two years ago. A statement from the group said the FSA believes that HL was […]
MGM Assurance is offering free network membership to brokers who can complete seven mortgages per month. If an agent sells fewer than seven mortgages in a month then a nominal fee of £50 is charged and trainee advisors are charged a fee of £100 per month.
The FSA has stepped back from its threat to ban former Equitable Life chief executive and appointed actuary Chris Headdon for life and has banned him for six years. Headdon is now excluded from holding senior roles in financial services companies until May 2010. The move has been condemned by Equitable Members' Action Group chairman […]
One of the UK's best-known financial advisers Ivan Massow is returning to business as an IFA with the relaunch of his firm as Felix Financial. The six-RI firm is operating from London offices as part of Bristol-based IFA network the Falcon Group. Massow's previous IFA business, Ivan Massow IFA, was part of South Wales network […]
The era of loose monetary policy created an environment that rewarded passive investors in the US. However, with the US raising interest rates for the first time since 2006, Felix Wintle explains why he believes active investing will be more important than ever. In the video Felix discusses: The rising cost of capital and its […]
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The Financial Services Compensation Scheme will automatically compensate hundreds of clients of a collapsed discretionary fund manager, but other investors will have to wait another five months to get their money back. London-based Beaufort Securities has been investigated by both the FCA and US authorities. An indictment from the US Department of Justice alleges that […]
Fiducia managing director on ‘good old-fashioned’ customer service in the digital world Anthony Scott is adept in the art of communication. As an adviser and a novelist (he has written the novels ‘On Ashover Hill’ and ‘The Birthday Gift’) it is crucial for the Fiducia Group managing director to engage and build a rapport with […]
The FCA has reiterated its warnings that advisers outsourcing defined benefit transfer advice to firms with relevant qualifications cannot divorce themselves from responsibility for the eventual recommendation. While existing FCA rules require additional qualifications to advise on DB transfers, and the FCA has written to all firms who have DB transfer permissions as part of […]