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Lib Dems back PPI campaign

The Liberal Democrats have backed Paymentcare’s campaign to get the Office of Fair Trading to force high street providers to label their payment protection cover with a ‘no obligation to buy’ warning.

Vincent Cable, shadow chancellor for the Liberal Democrats, has signed up to the campaign. In light of concerns about the potential mis-selling of PPI by high street providers, Paymentcare has called on the OFT to make several assurances.

As well as the no obligation warning it wants agreements to state that PPI is not conditional on the loan being granted, and would like to see single premium policies banned.

Shane Craig, managing director of Paymentcare, says: “The mis-selling of loan insurance is a continuing problem. Consumers are entitled to be sceptical when they realise high street banks and lenders have been ripping them off for years.”


FSA to review regulation one year on

A year after the introduction of statutory Financial Services Authoriys regulation, the regulator is due to begin a review of how the new rules are working in practice.The Council of Mortgage Lenders has today published an article reviewing the transition to the regulated environment, in which it argues that the costs of regulation have greatly […]

HML signs servicing contract with Infinity Mortgages

Homeloan Management has signed a three-year contract with Infinity Mortgages to provide post completion administration and collections servicing for newly completed sub-prime mortgages. HML recently received a Moodys SQ2 Primary Rating reflecting their strengths in terms of management, financial stability, staff, strategy as well as IT systems. Earlier this year, Fitch also reaffirmed its residential […]

The Mortgage Mole

TOP MANWould you Adam and Eve it – Mortgage Strategy has a new boss. Well, at least for a week. The John from John Charcol coughed up 9,000 for the privilege at the charity auction at this year’s Broomstick Ball for Cancer Research. The event, organised by Bristol & West sales terrier Dierdre McManus, raised […]

Ipswich gets into sub-prime

Ipswich has entered the sub-prime market with a range of products designed to comply with the Financial Services Authority’s Treating Customers Fairly policy. A self-cert, two-year sub-prime discount deal has been designed to meet the needs of people who might have missed mortgage payments or have credit card and loan arrears or County Court judgements […]

Seeking quality in uncertain markets

By Ewan McAlpine, Senior Client Portfolio Manager In uncertain times, investors naturally seek safety. But in fixed income markets, what does that really mean? Ewan McAlpine outlines the approach RLAM’s Fixed Income Team will be adopting across its credit funds in response to potentially volatile markets this year. Click here for full article


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