Lead generation firms are calling on the Financial Services Authority and the Association of Mortgage Inter- mediaries to clamp down on non-compliant firms that are giving the sector a bad name.Leadbay has written to the FSA to clarify whether certain lead generation firms that it will not name are acting compliantly. Toby Hughes, business development manager at Leadbay, says: “We spend a huge amount of money on compliance and find it extremely irritating that some firms do not adhere to the FSA rules. We are tired of companies saying they are compliant when they are not.” Samantha Bennett, spokeswoman at the FSA, says firms should pay attention to the FSA’s Financial Promotions Act, which is part of its Treating Customers Fairly initiative. She says: “We expect regulated firms to deal with companies that comply with the law. It is something we are aware of and it is certainly on our radar, but we are not looking to change our regime at present as the Treasury determines any changes in regulation.” Nick Chapman, managing director of Leadpoint, says: “I think some companies have bought leads cheaply from Indian companies and the quality of the leads has been poor. “After speaking to clients, I realised that the lead generation industry has been burnt and firms are tarred with the same brush.” Chris Cummings, director-general of AMI, says: “We have a good practice guide for brokers available on our website about how to buy leads, and we advise that brokers use it.” It has been suggested that AMI should launch a generation trade body, but this is beyond its remit, it says.
The mix-adjusted average house price in the UK in June 2006 stood at 190,883, up from 190,065 in May 2006, reveals the Department of Communities and Local Governments. The DCLGs June 2006 price index shows UK annual house price inflation in June 2006 was 5.2%, down from 5.6% in May 2006. Annual house price inflation […]
Debbie J Boyes Professional Mortgage Advisors was in a party mood last week, celebrating its second birthday and the launch of The Argentum Club. The club is open to anyone who wants to benefit from the company’s advice and special offers including discount vouchers, insurance advice and magazines. The firm says the essential element of […]
Consumer may face longterm difficulties with interest only mortages, warns moneyfacts.co.uk.Julia Harris, mortgage analyst at moneyfacts.co.uk, says: In our live for today culture, priority for many is still to get on the property ladder and consumers and lenders are using everyway possible to make this happen. But with incomes already stretched and prices continuing to […]
The industry is moving towards a cultural shift which will see lenders working together to gain competitive advantage, says Frank Eve, managing director of Frank Eve Consulting. Eve says that technological advances are breeding a generation of lenders that will work together to make life easier for themselves and brokers. He says: “Lenders are starting […]
The UK is ending what has been its slowest economic recovery on record with a marked acceleration in growth. Neptune’s forecast for UK GDP growth in 2014 is 2.5 per cent, up from 2013 growth of 1.8 per cent as estimated by the Office for National Statistics. When considering the changing UK macro outlook, three important questions remain:
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