View more on these topics

Vesta calls for cold calling crackdown

Vesta Packaging is calling on the Financial Services Authority to crackdown on cold calling, which it says is still a big problem.

Cold calls from companies selling mortgages are still a big problem, despite the ban on them imposed by the FSA, says Mark Leaper, managing director at Vesta Money and Vesta Packaging.

Leaper says that lack of action on the part of the FSA is allowing illegal cold calling activity to flourish, and there is evidence that consumers are still being phoned about mortgages without their prior permission by companies with whom they have had no previous relationship.

He says: “There are literally dozens of mortgage companies still making cold calls to consumers despite this activity being banned.

“Companies sometimes pay lip service to the ban by phoning consumers supposedly about secured loans, only to then switch the conversation to one about mortgages.”

Leaper says this is a big issue for all those companies out there who are sticking to the FSA rules, such as his own.

He says: “Why are we playing by the rules when so many others are not? You could say that the situation is worse than before the ban. At least then the industry knew where it stood and there was a level playing field.”

Robin Gordon-Walker, spokesman for the FSA says that although it has no specific project it is working on to combat cold calling, it does have clear rules that ban firms from doing it.

He says: “If we find out that a company is not following these rules we will take action against that firm.”


TMB launches 2006 calendar at Mortgage Expo

The Mortgage Business, HBOS’ specialist and packager focused lender, launches its new calendar for 2006 today at the Mortgage Expo. The theme for this year is ‘The Great Masters’.The characters in the calendar are re-enacted by TMB staff, with past themes for the calendar including sports, cartoons on the mortgage code, music and 2005’s theme, […]


Property prices in the North-East increase 108%

The North-East is the place to invest, say, as house prices have increased by 108% over the last five years, compared to average UK growth of 87% over the same period. One factor is the extensive regeneration work around the Newcastle area, which has increased the popularity of the city with investors. One such […]

MAB predicts survival of the flexible

There will be more business casualties among broker firms in the next two years, the Mortgage Advice Bureau warns. The independent broker says that while 2005 might have been a tough year, 2006 will not be any easier. And by 2007, it says the market will be starkly divided between winners and losers. How the […]

Susan Rice speaks on leadership

Leadership is about how you do it rather than what you achieve says, Susan Rice, CEO of Lloyds TSB Scotland.Rice, who spoke on leadership last night at the Said Business School in Oxford, believes that the key to her success at Lloyds TSB is about responding to stakeholders, customers, staff, communities, government and still managing […]


News and expert analysis straight to your inbox

Sign up