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Lose small brokers to high fees and consumers suffer

I was shocked to learn that brokers can look forward to paying a minimum fee of 1,000 to be regulated by the FSA.

As usual, nobody is standing up for the interests of small firms – the sector that keeps this country going.

Because of the actions of big banks and other financial institutions that the FSA has failed to supervise properly we are now doing a fraction of the business we used to.

We pose little risk to anyone so our regulatory fees should come down. But if we do two mortgages a month in this climate and get, say, £300 in commission the FSA wants a third of it. By the time we pay our other costs it’s just not worth the effort. Lose brokers and consumers will really suffer.



Checkmate changes its name to Portillion

Checkmate Mortgages has rebran-ded as Portillion and appointed Philip Dearing, former chief executive officer of Market Harborough, as its savings director. Dearing’s appointment suggests the lender will look to retail deposits for its funding when it launches. Portillion has yet to reveal when it plans to launch or if it has obtained its banking licence […]

Diversified cashflows are key

Dividends are under pressure in some areas: but reliable yields can still be found. So says Adrian Frost, manager of the Artemis Income Fund, in conversation with Lawrence Gosling.


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