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Elephant gets official authorisation

Gary Miller-Cheevers, managing director of Elephant Loans, says: “We are delighted to be one of the first companies in the UK to receive formal FSA authorisation and this further demonstrates our commitment and ability to provide the highest quality operating procedures in the UK mortgage market.”

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CII launches body to boost brokers&#39 professionalism

Richard Fox, currently compliance director at the MCCB, is to become SMP&#39s chief executive from November 1 when it will be up and running. The CII is looking to invest £2m in SMP which will work to increase the professionalism of mortgage brokers and help them become better qualified. Although the cost of membership has […]

New Life Mortgages receives authorisation

Peter Lucas, New Life Mortgages&#39 chief executive, says: “We are very pleased and proud to be granted the relevant permissions and as a front runner in the provision of Lifetime Mortgages we now confidently expect to substantially increase the levels of our activity. “Our Lifetime Loans are already being sold exclusively through a select panel […]

FSA measures consumers&#39 financial capability

Addressing a discussion, Financial Capability: Making informed decisions about mortgages, held at the House of Commons last week, the FSA said the baseline survey is progressing well. Part of the regulator&#39s remit is to help the public understand financial issues and ensure they do not buy unsuitable products. The industry and politicians agree that it […]

House prices fall for third month, reveals NAEA

Over three quarters of estate agents confirmed that they believe prices have reached their peak. Asking prices were on average 1.3% lower than the previous month and, further confirming the much-anticipated slowdown in the market, the annual increase in house prices was 8.5%, down from 10.3% the previous month. In addition, 79.6% of estate agents […]