I was interested to read Tony Ward’s blog on Mortgage Strategy Online last week about putting the Barclays and Libor fixing scandal into some form of perspective.
While all the upheavals and problems over the past five years have had a detrimental impact on the mortgage market as a whole, they has been one positive.
Cash plays Despite holding Precise Mortgage’s second annual industry poker night at his house recently, Mole was intrigued to find out that the firm’s managing director Alan Cleary kept a wide birth from the tables.
£119m – The amount Bob Diamond, Barclays former chief executive, received in bonuses. 0.25% – The percentage cut to the interest rate by the European Central Bank, meaning it now stands at a record low of 0.75 per cent. £13bn – The uplift to economic output during the Olympics, Prime Minister David Cameron predicts. £250,000 […]
Rogue claims firms are ignoring warnings from their regulator the Ministry of Justice, the Building Societies Association claims. The BSA says it has no confidence that errant firms will heed warnings from their regulator and calls for it to be given more powers to intervene. BSA research shows bogus payment protection insurance claims rocketing 247 […]
The British Bankers’ Association told its members last week that the industry needs “to think long and hard about its collective behaviour”, as it cancelled its annual summer party as a result of the growing pressure on the UK banking sector. Its annual summer party which it holds for members was due to take place […]
A survey by London & Country Mortgages has found that more than 80 per cent of women are completely unaware of the forthcoming introduction of the European Gender Directive this year. London & Country conducted an online survey of 811 women to gauge their views and awareness of the European Gender Directive. The Directive comes […]
The number of mortgage complaints has risen by 9 per cent from 2,044 to 2,234, with 26 per cent upheld, according to the latest quarterly complaints data to be published by the Financial Ombudsman Service. But mortgage complaints made up 4 per cent of the total number of complaints referred to the FOS between April […]
The chairman of the Smaller Business Practitioner Panel last week questioned whether having the FSCS as a self-insured system is affordable and fit for purpose in its current form. Guy Matthews, chairman of the SBPP, made the comments at the FSA’s Annual Public Meeting. While he welcomed the fact that the FSA had launched the […]
Honister Capital, which includes advisory firms Burns Anderson, Sage Financial and Honister Partners and its subsidiary, B-A Financial Ltd, last week went into administration after it failed to secure professional indemnity insurance. Honister Capital has over 900 self-employed financial advisers across the brands and 190 back office staff. Grant Thornton has been appointed administrator for […]
Some 100,400 tenants in England and Wales were in severe arrears in Q2 2012, a year-on-year rise of 24 per cent, according to Templeton LPA’s latest Tenant Arrears Tracker. The figures are the highest since the company, which is part of the LSL Property Services group, began tracking the market in 2008. The number of […]