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BSA delighted at MP backing

The Building Societies Association says it is delighted that MPS have backed a new parliamentary bill which affects building society funding limits and the rights of investors.

The bill, called the Financial Mutuals Arrangements Bill, also proposes to make it easier for different types of financial mutuals to merge.

It received its second reading today, when MPs debated the overall purpose of the legislation.

As the bill received the necessary support from parliamentarians, it will now begin its committee stage, when the details of the proposals will be scrutinised by a committee of MPs.

Adrian Coles, director-general of the BSA, says: “We are really delighted that MPs turned out in force to support mutuals operating in communities across the UK.

This bill will make it easier for building societies to do business and will benefit building society members.

We hope that the next stages of the bill will receive equally strong support from all political parties.”


Finance arm rebranded

Spicerhaart has rebranded its financial subsidiary Mortgages Direct to Spicerhaart Financial Services. The renaming will bring the organisation into line with the company’s estate agency branches. The financial arm will continue to operate within the 250 branches, adopting the branch name from each of the brands – haart, Felicity J Lord, SpicerMcColl or Darlows.

Smooth the path to a HIP future

Talk of a property boom and bust around the HIP implementation deadline is wide of the mark – we should instead be trying to smooth the transition for clients, says Chris Rodgers

Borrowers opt for shorter term deals, says IF

Term reduction has become a key aspiration for mortgage holders, research by Intelligent Finance shows.IF says almost three quarters of mortgage holders are wanting to reduce their mortgage term or increase their payments to reduce the balance over time.It also found that nearly a third of people say paying off their mortgage or monthly mortgage […]

CML gives its backing to TCF lender website

The Council of Mortgage Lenders has thrown its weight behind The TCF Lender Forum website in a bid to get the industry to embrace the Treating Customers Fairly initiative before next Saturday’s deadline.


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