The Financial Services Authority has given more details of its post-implementation reviews of the mortgage and general insurance regimes.Unveiled by Clive Briault, managing director of the FSA, earlier in the year, the reviews will investigate the effectiveness of the regimes, focussing initially on how far the FSA’s conduct of business requirements for mortgage and GI firms are delivering the intended outcomes for consumers. The FSA has identified disclosure requirements and advice and selling standards as areas within both regimes in which it plans to undertake early consumer research. The reviews will employ a variety of tools to test the effectiveness of the regimes. As well as consumer research, review teams will analyse statistical information including regulatory returns and market data such as changes in prices and charges. There will also be mystery shopping to test sales and advice processes. Dan Waters, director of retail policy division at the FSA, says: “Naturally we recognise that it is still early days and we have to be realistic about the timescales in which the various objectives of the regimes may be achieved. “That’s why the reviews are rolling programmes which will measure the outcomes of the regimes in stages.” From 2006, the FSA will also be undertaking a study looking at changes in consumer attitudes and behaviour over time.
London & European, a provider of services and solutions designed to enhance the speed, simplicity and security of property transactions, has unveiled an insurance policy for lenders designed to cover performing loans and guarantee their securitised portfolios.Until now, title insurers have been unable to prove the financial benefits of title insurance, instead focusing on the […]
Kensington Mortgages has unveiled a proposition including a flexible mortgage with the option of subscribing to an insurance product that is specifically tailored to meet the needs of the self-employed. Key features of the flexible mortgage include borrowers conveniently paying off their mortgage early. Only 50 extra each month means they can clear the mortgage […]
County Mortgage Group, the company which owns c2-financial and c2 secured, has today revealed a huge leap in turnover for the year ending September 2005 of just over 46%.The company’s turnover now stands at just over 6m and this news comes on top of its recent announcement that profits trebled during its financial year to […]
Amber Homeloans launches an extended range of buy-to-let products today. Its range now includes adverse criteria which allow up to 5000 CCJs, ignore all defaults and except mortgage defaults. Mike Perry, associate director of sales and marketing at Amber, says: “We are happy with this range and pleased to be extending further into the buy-to-let […]
The Pensions Regulator (TPR) has released advice on communications for employers, including three tips to help you with your auto-enrolment duties. 1. Allow enough time to select your pension schemeIt’s recommended that you start to prepare for auto-enrolment at least 12 months in advance of your staging date; additionally, give yourself time to choose the […]
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