The appointment of the Department of Constitutional Affairs as interim regulator for complaint management firms has been slated as a temporary ‘lash-up’.As Mortgage Strategy’s Stop the Rot campaign gathers pace, debate goes on as to who should regulate complaint management firms. The secretary of state will act as the chief regulator initially, with everyday responsibility being delegated to a civil servant. There will also be a non-statutory advisory committee made up of representatives of the financial services and insurance industries, the legal profession and consumer groups. But Oliver Herald, Tory MP for North-East Hertfordshire, says: “Many of us are disappointed that an established regulator in the financial field is not taking on the task. “The Financial Services Authority or the Office of Fair Trading would be preferable as regulators because they have the relevant experience. We are flying blind with a temporary lash-up solution.”
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Money Partners has announced a number of enhancements to its range of Origin-branded mortgages.The changes take effect from Monday June 19 2006, and comprise the following:Discount products Three-year discount mortgage a new product offering a discount element of 1% throughout the full discount period. Rates start at 5.09%, and there is no extended early redemption […]
InterBay Funding, the UK’s new commercial lender, has appointed a business development manager to its national sales team. Jamie Breathwick joins the team from the Royal Bank of Scotland Group where he held the position of BDM for the past four years. Breathwick will be supporting brokers in the East Midlands area.David Lines, director of […]
Leeds Building Society has launched a 10-year fixed rate mortgage at only 4.99%.The mortgage has no higher lending charge, up to 90% loan to value and allows 10% capital repayments each year without penalty. There is also a fee free version for customers who require help with fees.Stuart Fearn, product development manager, says: “This 10-year […]
Alliance & Leicester last week confirmed plans to launch a set of specialist products through a tie-up with Lehman Brothers, adding that it may consider putting these on its own books in future. The lender says it will soon start to distribute buy-to-let, self-cert, near prime and sub-prime specialist mortgage products through brokers and the […]
As we approach the two-year milestone of auto-enrolment, employers have had the opportunity to truly assess the capabilities of their chosen support. They are also now realising that getting to the staging date was the easy part, and that support is required for almost every aspect of the day to day running of their scheme. With the three-year re-enrolment window coinciding for many with the total removal of commission and Active Member Discounts from pension-related products and services, as well as the introduction of the pension charge cap in April 2015, many employers will have no choice but to review their support options. But, what is involved in transitioning your auto-enrolment scheme away from your current support options? This guide from Johnson Fleming aims to outline some of these key areas and provide information and discussion points on what you need to consider.
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