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RICS disappointed with Queen’s speech

Steven Gould, director of regulation at The Royal Institution of Chartered Surveyors says the government has missed an opportunity to impose regulation for estate agents in the Queen’s speech today.

Gould says: “This is a missed opportunity. While RICS welcomes the Government’s commitment to introduce independent redress across this sector, we feel that redress alone is insufficient. Consumers should have confidence when they walk into an estate agent that it is a properly regulated business. The current proposals do not offer them this option.

“All reputable estate agents, professional bodies, trade associations, and Which? have been calling for a proper system of regulation for years.

“Agents only being required to offer independent redress is shutting the stable door after the horse has bolted because the customer already has a complaint. We want prevention as well as cure.”


LSL floats on London Stock Exchange

LSL Property Services has debuted on the London Stock Exchange. In conditional dealing, the shares opened at 212p, valuing the company at £221m. Simon Embley, chief executive of LSL Property Services, says: “Becoming a listed company is an important milestone in the development of our group. The flotation will raise our corporate profile and will […]

Niche lenders get survival warning

Lenders that focus solely on the specialist mortgage market are at risk of marginalisation and will struggle to survive, GMAC-RFC has warned. Speaking at the Council of Mortgage Lenders funding summit this month, Stephen Knight, executive chairman of GMAC-RFC, told delegates that investment banks lending in the UK market must address the entire mortgage spectrum […]

Stroud & Swindon launches new range of two-year fixes

Stroud & Swindon has launched a new range of two-year fixed rate products.The first of its range is a two-year fixed rate at 5.09% fixed rate until February 28, 2009, then Bank Of England Base Rate plus 0.99% for life of product. It also has a maximum loan to value of 90%, and early redemption […]

AToM claims it pays top proc fee

All Types of Mortgages claims it pays brokers one of the highest proc fees in the industry. Internal research by AToM, shows on average it pays a higher proc fee than the industry norm. The research also highlights the wide variation in fees paid by packagers for the same products from the same lenders.


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