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AFB launches PPI factsheet

The Association of Finance Brokers has launched its first factsheet to help members with payment protection insurance sales procedures. The factsheet, entitled Payment protection insurance checklist, has been produced following issues raised about the PPI sector by the Financial Services Authority and the Office of Fair Trading. The FSA has urged firms to review their sales practices including checks on inappropriate sales, poor quality advice and lack of consumer clarity over whether PPI is optional.

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First-time buyers expect parental assistance

First-time buyers take it for granted that they will get parental assistance in order to get onto the property ladder, reveals research from Abbey. Not only do many first-time buyers live at home for a considerable time in order to save money, but parents are expected to give generously from their savings to help out […]

First 4 Brokers ARs face ruin due to unpaid fees

Appointed representatives of failed network First 4 Brokers could face financial ruin because of unpaid fees. The network went into administration on August 11 leaving 30 ARs unable to trade and hundreds of support staff redundant. Robert Ambrose, a broker at In-Sight Finance, has attacked the Financial Services Authority for failing to protect ARs and […]

Fighting for customers

Whether it’s Michael Bolton airing his views on packagers or lenders responding to claims about unreasonable exit fees, the mortgage industry prides itself on being a dynamic community that enjoys a healthy debate about the future of the housing market.

Woolwich relaunches lifetime tracker mortgage

Woolwich has relaunched its lifetime tracker mortgage, guaranteed to stay at 0.19% above the Bank of England base rate with no arrangement and no redemption penalties.Andy Gray, head of mortgages for Woolwich, says: Money markets have pushed the cost of short term fixed rates above 5% so it is making them uncompetitive compared to tracker […]

A funny old year

The past 12 months have been turbulent – just take a look at this chart of the FTSE 100 over the last year. There have been some points which I’m sure would have caused your clients some concern, and possibly even had them looking for an alternative investment with reduced volatility; perhaps without reducing their […]

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