The IFS School of Finance says large numbers of mortgage advisers have already signed up to its Certificate in Regulated Equity Release in advance of regulation next month. From April 6, the sale and marketing of equity release products including lifetime mortgages and home reversion plans will be regulated by the Financial Services Authority. Therefore, anyone giving advice on equity release products will soon be required by law to hold an appropriate qualification. The IFS School of Finance responded to imminent regulation by launching the CeRER as well as an equity release top-up unit for those already holding the Certificate in Lifetime Mortgages or an equivalent qualification. Mark Roberts, head of faculty for financial regulation at IFS, says: “We are pleased that after only a few days, several hundred advisers have already registered.”
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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 […]
Just before Mortgage Day, many lenders stopped product development and some even repriced upwards so that reduced demand would let them develop technology to cope with regulation.
John Maltby has quit Kensington Group bagging a 310,000 pay-off, following the group’s board issuing a profit warning.Maltby resigned from his role as chief executive last week. In an announcement to the London Stock Exchange on Friday, the group put his resignation down to the preliminary conclusions of a strategic review which confirmed it will […]
Although the green emissions of politicians are little more than posturing at the moment, brokers must be aware of the eco-friendly mortgage options as their clients are increasingly likely to demand them, says Harvey Jones
Alex Ralph, manager of the Artemis High Income Fund, sees further pressure on government bonds as inflationary pressures build on both sides of the Atlantic.
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