From Lee MartinMany people I speak to in the course of a working week have negative things to say about the industry. A BDM recently told me he’d seen three brokers that week who had not done a mortgage deal for weeks. I try to mix my business – mortgages, secured loans, personal loans, life assuranceâ¦ Life assurance? I often get people asking for 100,000 of term assurance with critical illness over 20 years with a waiver on guaranteed rates. My network says I have to advise the customer, do a fact-find and a statement of price, then a three-page demands and needs letter. All I should be doing is execution-only business like IFAs have been getting away with for years. What’s the difference? My introducer gives my number to people, they call and I lose out. They say: “I can’t be bothered with all this, I just want a quote. I’ll go to Tesco.” Tell me regulation is working wonders for clients and I’ll have you certified. The FSA must be nuts. Clients are getting less advice than before because they do not want all the paperwork. They just want to ring up, get a quote, and say yes or noâ¦ that’s it. Lee Martin Regency Mortgage Bureau Chorley Lancashire By email
No wonder Halloween is now such a major annual event in the UK, a recent survey shows that Brits are surprisingly unperturbed about spooky events, even when they concern the sanctuary of their hearth and home. Whereas once, people used to do anything to avoid or ward off evil spirits, with hanging up horseshoes and […]
Cleaning is the number one source of deposit disputes in the 12 months since the Tenancy Deposit Scheme received its first disagreement to be resolved between landlord and tenant. The scheme, for regulated letting agents and their landlords, went live in May last year, and so it took six months before the end of a […]
With estimates that the direct and indirect costs of corporate ID fraud could be as high as 50m per annum, business information expert Equifax is tackling the problem with new anti-fraud tools.Working in close partnership with the Metropolitan Polices Stirling initiative launched earlier this year, Equifax has introduced two services designed to bring increased protection […]
The government is failing to protect consumers fully with its Consumer Credit Bill, which begins its second reading in the House of Lords on Monday October 24, warn credit information experts at checkmyfile.com.The Bill seeks to update the 30-year-old Consumer Credit Act by tackling problems the government has identified, such as forcing credit providers to […]
With 23 auto-enrolment compliance notices issued by the Pensions Regulator, and an evolving legislative landscape meaning previously compliant schemes may now be in breach of regulation, now is the time to think about auditing your auto-enrolment scheme. Johnson Fleming is hosting a webinar on 9 October at 11:00 on how to audit your scheme to ensure compliance, avoid breaches and fines and overcome data issues.
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