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Specialist lending module launched

The Institute of Financial Services has opened registration for its Alternative Residential Lending module.

The ARL module forms part of the recently launched Advanced CeMAP qualification and gives candidates greater flexibility in their specialist area. The module covers the advice process for a range of alternative lending products such as sub-prime, Right to Buy, self-build, equity release, borrowing to buy foreign property, buy-to-let and buying property as an investment in a self invested personal pension.

Mark Roberts, head of faculty financial regulation at the IFS, says: “The industry has diversified recently with many mainstream players now lending to sub-prime borrowers as the number of mainstream borrowers falls.

“We developed the ARL module to offer those working in this market a chance to show their competence through accreditation.”


Sub-prime scandal warning

Cartel managing director Carl Wright is warning the sub-prime market is in crisis and runs the risk of becoming the next big mis-selling scandal. He says the recently announced Financial Service Authority investigation into the market will discover that a significant number of brokers are wrongly advising clients to take out sub-prime mortgages when 50% […]

Met launches initiative to crack down on fraud

The Metropolitan Police Service and money transfer provider Western Union have joined forces to launch an initiative to crack down on high volume fraud. The initiative, which is supported by the Association of Chief Police Officers, aims to cut down on the 1bn lost every year through fraud. Operating under the umbrella of Operation Sterling, […]

Is there still a place for HLCs?

Nationwide recently reported that 800,000 borrowers have paid 1bn in higher lending charges over the last five years.The HLC offers a measure of protection to the lender if a borrower defaults on the mortgage, but it is important to emphasise that although the customer has to pay the premium, it is the lender that benefits […]

RICS predicts rise in house prices

Chartered surveyors are predicting a rise in house prices for the first time in 18 months.The Royal Institution of Chartered Surveyors latest housing market survey, reveals that the number of chartered surveyors reporting price falls for September dropped again, to 21%, down from 25% in August.Though the increase in buyer interest is modest, it points […]

India Election Update

What a difference six months makes. Speaking in September last year, we had warned of ‘excessive pessimism’ afflicting the market’s perception of India. Since then, responsible central bank policy from the Reserve Bank of India (RBI), alongside improving global growth, has meant that India’s macro environment is strengthening quickly. The current account deficit has shrunk, inflation is falling and the government has embarked on a heavy dose of much needed fiscal consolidation. As a result, the rupee has been one of the strongest global currencies this year while the market has touched all-time highs, rallying by more than 20 per cent (GBP) since September. This begs the question: are we now in a period of ‘irrational exuberance’? Not yet.


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