From Steve NewmanThe FSA has the regulation of the mortgage and life industries nicely tied up – or does it? Regulation is in place to ensure we exercise a duty of care when advising customers about the risks of taking on a mortgage commitment. Best advice is to ensure that life and critical illness policies are recommended where appropriate. Demands and needs documents are issued to explain to the customer why we recommend they protect themselves and their families. A good job well done? Not quite. GPs take weeks to respond to life companies’ requests for medical reports and then the life companies’ underwritting departments take weeks to deal with them when they get them. The result is customers have lots of bits of paper and advice telling them how important cover is, but what use is that when their mortgage completed three months ago and they still don’t have a policy in force? Also, who is liable? Suppose the customer dies or suffers a critical illness. Will the life company pay out, is it the GP who gets sued or the life company or is it me for not making sure cover is in place at completion? Further regulation should be put in place to get all the parties involved in protecting customers to act in a timely fashion.
Britannia has teamed up with Stoke City FC to raise awareness of racism that still exists in the sport. On Saturday Britannia and Stoke City FC will launch a campaign to educate local school children about the negative effects of racism. Using the City Rhythm and Rhyme competition they aim to encourage youngsters to use […]
The National Landlords Association and the Dorset Residential Landlords Association have come together in a step towards providing a more coherent and unified voice for the private rented sector.
My client is employed in his family gardening business on a basic salary of £25000 but he has recently gone part-time to build his own garden design business. He now only gets £15000 from the family business but he has made £20000 from his own business which was set up 12 months ago. He would like to buy his first property and has a £30000 inheritance he wants to put toward a £145000 flat he has found. What are his options?
Research by Halifax, using data from the Office of the Deputy Prime Minister, shows that there were 689,675 empty homes in England during 2004/05, 3.2% of the total English dwelling stock. Bringing these dwellings back into use is a pressing issue as 106,000 households in England are living in temporary accommodation or 0.5% of all […]
Steve Webb – Director of Policy and External Communications As the Autumn Statement approaches, Steve Webb calls for the Government to stop tinkering with tax relief. Twice a year, in the run-up to the Spring Budget and the Autumn Statement, we face a torrent of speculation as to what changes the Chancellor might make to […]
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