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RICS faces an internal revolt over HIP stance

The Royal Institution of Chartered Surveyors is facing an internal revolt from members unhappy with the way it derailed the introduction of Home In-formation Packs.

The trade body’s application for a judicial review last month effectively delayed the implementation of HIPs. But some members have launched an online petition calling for the instant launch of the packs.

They hope to get 200 signatures, accounting for over 1% of the membership, allowing them to call an extraordinary general meeting and take their grievances to the RICS board.

The petition has already attracted 114 signatures. One petitioner says RICS has knifed members in the back and Margaret Grafham, a partner at SSH Chartered Surveyors in Liverpool, writes: “Never in the history of RICS has a judicial review been laun-ched. Members were not consulted on the move.”

A spokesman for RICS says: “Proper consultation with RICS members was conducted in accordance with our governance structures.”


Voltrex launches online foreign exchange service

Voltrex has launched an online foreign exchange service for private individuals. The website, allows people to send and receive foreign currency online.Graham Farrow, managing director, of Voltrex Foreign Exchange, says: “In today’s global environment, where people are increasingly buying properties, cars and boats abroad, earning part of their salary or bonuses in foreign currency, […]

Interest payments hit 15 year high

Two interest rate rises so far this year have pushed up mortgage interest payments for first-time buyers to their highest levels for 15 years. Data from the Council of Mortgage Lenders’ regulated mortgage survey showed that first-time buyers in April were paying 18.7% of their income on mortgage interest – the highest level since 1992, […]

IF offers five-minute decision in principal via

Intelligent Finance is to offer a five-minute online decision in principal via already offers online applications through ING Direct and is working towards deals with other lenders. Francis Ghiloni, marketing and business development director of, says: “The mortgage market has a well-deserved reputation for flexibility so it is surprising that many lenders have […]

TMW expands the 100% LTV range

The Mortgage Works is launching three mortgages in the 100% mortgage portfolio.The new deals have an LTV of 99%, with an arrangement fee of 1% which can be added to the loan, taking the loan to 100% LTV. With rates starting from 5.99%, the products are designed for customers who have a small deposit and […]


Employers fined £52,500 for auto-enrolment failings

By Jamie Clark, Business Development Manager The Pensions Regulator (TPR) has taken the step of naming and shaming employers that have been served County Court Judgments (CCJs) for non-payment of auto-enrolment fines. We take a look at what this means for employers, their employees and advisers Shamed into action? Sixty-four employers have been served CCJs […]


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