View more on these topics

Lepine firm asks to be struck off

First Class Mortgages has applied to the Financial Services Authority to have its authorisation to carry out regulated activity withdrawn.

The application follows the FSA’s decision to ban John Lepine, a director of the specialist intermediary, from carrying out regulated work, as re-ported exclusively in Mortgage Strategy last week.

FSA rules dictate that First Class Mortgages must put forward a replacement for Lepine to continue carrying out regulated work.

An industry source says: “The fact that First Class Mortgages has applied to have its permission withdrawn suggests it cannot find a suitable replacement to take on the approved person’s role.”

Barking-based First Class Mortgages was unavailable for comment.

Recommended

ARLA predicts buy-to-let stability

The Association of Residential Letting Agents has predicted that the fundamentals of the buy-to-let market will remain unchanged following yesterday’s base rate rise to 5.25%.In the final ARLA quarterly review and index for 2006, more than eight out of 10 investment landlords were reported as saying that they would not sell their property investments even […]

I support the FSA’s willingness to act

In his speech at the Council of Mortgage Lenders annual conference Dan Waters, director of retail policy division for the Financial Service Authority, commented on the effectiveness of the Mortgage Conduct of Business rules so far.

Rate rise not all “doom and gloom” says GMAC-RFC

The interest rate rise doesn’t have to spell “doom and gloom” for intermediaries says GMAC-RFC. Jeff Knight, director of marketing at GMAC-RFC, says: “The industry has expected another rate rise for some time, but I did not expect it to happen as early as January, so this has come as a slight surprise. “With inflationary […]

Exclusive sets up office in Belfast

Exclusive Connections is setting up a branded office in Belfast. Managing director Matthew Arena says: “The Northern Ireland market is growing and the timing of the launch will benefit NI brokers and their clients.”

Brexit and the mid cap buying opportunities

Video update from Mark Martin, Head of UK Equities, Neptune Investment Management With the Brexit referendum scheduled for 23 June, how much risk is priced into the market and is the current volatility a long-term buying opportunity? Watch Mark Martin, Head of UK Equities, and Holly Cassell, Assistant Manager on the UK Mid Cap and […]