View more on these topics

Loan Options backs calls for regulation of secured loans

Loan Options says it supports the Association of Finance Brokers’ call for the Financial Services Authority to regulate the secured loan market.

The firm says that if the FSA doesn’t regulate second and subsequent charge residential lending then the net result would be a bureaucratic mess of competing regulation, that would leave both brokers and consumers confused.

Andy Moody, managing director of Loan Options, says: “Not only is it a logical move to bring the whole of the secured lending market under one roof from a compliance and oversight perspective, but the truth is that the it is the only sensible step without the government having to come up with a tortuous ‘two tier’ regime for the implementation of the upcoming EEC’s Consumer Credit Directive.

He adds: “We need a regime where the public and the intermediary community can feel there is a real all embracing compliance umbrella in terms of care and continuity.”

Recommended

Unsellable homes push down rents, says RICS

Would-be sellers continued to flood the rental market with unsellable properties at the end of last year, research from the Royal Institution of Chartered Surveyors reveals.

HIPs are unpopular and often lead to search duplication

As a provider of conveyancing services to the public we speak to hundreds of home buyers and sellers every month and find that sellers consider Home Information Packs to be a nuisance and an unnecessary expense.

Curriculumvitae: Chloe Taverver

Describe your current job

I’m responsible for maintaining The Business Mortgage Company brand, our media profile and all broker communications. I am also in charge of implementing the marketing plans for our key distribution partners. My role is quite varied and requires advanced juggling skills as I am usually involved in a number of projects at any given time.

BSA urges borrowers to contact societies over arrears

Hard pressed borrowers struggling to meet their mortgage repayments need to contact their building society as soon as possible – that is the advice from the Building Societies Association as the FSA publishes data on mortgage arrears.The BSA says societies have a wide range of techniques that they can use to help ensure that wherever […]

Newsletter

News and expert analysis straight to your inbox

Sign up