View more on these topics

Advice definition is final, says Treasury

The definition of advice in the consultation draft of the Regulated Activities Order is final, says the Treasury.

Strategic or generic advice will not be regulated following the format for investment advice, and only advice on the merits of a particular mortgage will be captured.

The Treasury registers the concerns of respondents who sought greater clarity between advice and information.

It concedes that merely “matching the consumer&#39s preferences and expectations to the products available” may not be advice, but will nonetheless be caught by regulatory provisions for “arranging”.


New customer services boss at Scottish Life

Scottish Life has appointed a new customer service director in the form of Isobel Kennedy, currently head of customer services for Royal London at their Wilmslow operations centre. Kennedy takes over from John Wallace, who retires after 35 years service at Scottish Life. Brian Duffin, chief executive of Scottish Life, says: “I am delighted to […]

Amber sells £30m book

Amber Homeloans has sold £30m of its mortgage book to Saffron Walden Mortgage Services, a subsidiary of the building society.Amber focuses on light/medium adverse, self-certification, 100% loans and buy-to-let mortgages.Amber managing director Gordon Jolly says: “Portfolio sales are an integral part of Amber&#39s strategy as a creator and trader of mortgage assets. This is the […]

Lloyds TSB profits up

Lloyds TSB has announced record half-year results for gross new mortgage lending of £8bn, up one-third on the same period last year.The group&#39s market share of gross new lending declined 1.6% to 5.9%. But there is a record mortgage pipeline moving through subsidiary C& G. And the group&#39s interim result statement adds: “We have chosen […]

New development boss at SPML

Southern Pacific Mortgage Ltd (SPML) has strengthened its business development team with the appointment of Fred Paton to the position of head of corporate development. Paton has held senior positions with Mortgage Express, the Royal Bank of Scotland and regional building societies, and has many years experience in the intermediary-based mortgage market. In his new […]

Childcare - thumbnail

Three questions for employers…

The Family and Childcare Trust’s annual survey has been widely reported in the media and the two headline figures were these: the average cost of a nursery place for a child under two has risen by 33 per cent since 2010; and the costs have risen by five per cent in a single year.


News and expert analysis straight to your inbox

Sign up