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E-rules could harm UK

Intermediaries and lenders that offer mortgage products online have been left on tenterhooks as they wait to see what the full impact of the Electronic Commerce Regulations 2002 will be.

New rules came into force last week and incorporate the Electronic Commerce Directive 2000 into UK law, covering the provision of services offered at a distance by electronic means.

Information Society Services will be regulated on a &#39country of origin&#39 principle.

A top-level memo from the CML seen by Mortgage Strategy conveys lenders&#39 worst fears. In its response to the Treasury&#39s first mortgage consultation, the CML expressed concern that ISS providers from member states with less stringent financial regulation than the UK would have a competitive edge over UK firms.


Demand still weak as global recovery remains elusive, says CBI

The weak global economy continues to hold back demand for manufactured goods with domestic and export orders both poor, claims a new CBI survey. In the latest monthly Industrial Trends Survey 40% of respondents said orders were below normal while 16% said they were they were above. The balance of minus 24 is the same […]

Exam to weed out less dedicated

Mortgage intermediaries believe that proposed exams for advisers who want to offer equity release products will make the mortgage market more specialised and weed out less dedicated players. Mike Fitzgerald, sales director at Brentchase Financial Services, says: “Many brokers are very worried at the prospect of doing more exams, and say they will no longer […]

Natwest Home Insurance launches £100,000 competition

With the average mortgage now £100,000, NatWest Home Insurance has launched a competition which will enable the winner to pay up to £100,000 off their mortgage. All people have to do to enter is to ask for a home insurance quote or give NatWest their insurance renewal date before the end of September. If the […]

Brentchase branches out

An IFA is setting up a one-stop shop to supply mortgages for people wanting to buy property in France, and put them in touch with English-speaking estate agents and solicitors. Brentchase International, part of Brentwood-based IFA Brentchase Financial Services, will arrange finance for properties in Normandy and Brittany. The company, which will launch later this […]


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