View more on these topics

Proof that the government wants to do away with IFAs

From Dave King

I took Friday off last week and returned to more bad news from a government agency which I take as proof positive that the government, the FSA and all other interested parties are using all means possible to exterminate IFAs.

I have a civil service client whose mortgage I am arranging. He and his family are moving from Brighton to Folkestone. He is being allowed to claim associated costs with this move including legal fees, removal expenses and estate agency fees.

But when I submitted my invoice to him for 195 for arranging the mortgage for onward transmission to his accounts department along with his expenses claim, his accounts department returned and deducted it saying, “We are not able to reimburse any fees or costs associated with financial advisers” (sic).

So we’ll just not bother that I am an independent financial adviser trying to obtain the best deal I can for my client using the necessary software and regulatory procedures and assistants’ time associated with all that, shall we?

Correct me if I’m wrong but isn’t the government trying to move towards a more professional, fee charging industry?

Never mind, I hope the jobsworth involved has a happy financial review with the spotty ‘adviser’ from the FSCS.


HIPs will be no problem for brokers who are prepared

From Colin Baily You must have heard about Home Information Packs by now – how they will decimate the industry with estate agents poaching the business from us by tapping into the clients before the independents get a chance to see them. But is it really doomsday? I speak only from the point of view […]

Leeds unveils three-year B2L deal at 4.99%

Leeds has launched a three-year buy-to-let discount mortgage. The product, currently 4.99%, is available up to 80% LTV and has no higher lending charge. Jeff Kirk, corporate relationship manager at Leeds, says: “We have looked at our product range carefully and delivered a market leading buy-to-let discount. There is no higher lending charge and 10% […]

Intermediaries’ outlook for next year is positive, says Mortgage Trust

Mortgage Trusts December buy-to-let Intermediary Forecast reveals that according to intermediaries the outlook for 2006 is overwhelmingly positive.Some 64% of respondents expect to write more business over the whole of 2006 than in 2005 and 29% expect to write significantly more.The outlook for 2006 is good even in comparison with the increase in business volumes […]

West Brom boosts local fundraising

The West Bromwich, in partnership with the Mercian Trust, is donating 10,000 to support local seasonal fundraising activities. Among the beneficiaries are the Phoenix Singers, who will give a fundraising concert in aid of St Mary’s Hospice at the Adrian Boult Conservatoire in Birmingham on December 17. West Brom is also working with the Birmingham […]

The savvy consumer

In last year’s FCA thematic review of the mortgage market, one of the key things highlighted was the “savvy consumer”. That’s the client who comes in the door with a very clear idea of what they need and expect you to get them it. They don’t think they need advice, they have after all consulted […]


News and expert analysis straight to your inbox

Sign up