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Treasury rules make good sense, says London & Country

Mortgage broker London & Country has broadly welcomed most aspects of the Treasury&#39s near-final rules on the regulation of mortgage advice.

Patrick Bunton, head of operations and compliance, says that rules on introducers and packagers “make perfect sense”, and is pleased that the Treasury has deferred judgement on the implications of polarisation.

But Bunton warns that Treasury confirmation that home reversion plans will not be regulated “could lead to confusion” in the future as equity release products grow in significance and complexity.


Land Registry records 13.5% house price growth

The average house price in England and Wales is now £133,247, reveals latest quarterly figures from the Land Registry. This is a rise of 13.5% on the comparable 2001 price of £117,398. The price report covers the period April to June 2002, and compares average prices and volume of sales with those for the same […]

Ex-MSMS boss joins Nextra UK

Joe Bradley, former chief executive officer of Marlborough Stirling Mortgage Services (MSMS), takes up his new job as chief operating officer of Nextra UK today. Nextra UK, the Telenor-owned provider of managed services, has put Bradley in charge of co-ordinating sales, client management and service offerings. He will ensure that customers&#39 needs are met by […]

Treasury sticks by plans to remove £5 fee cap

The Treasury has confirmed that the current £5 cap on brokerage fees not leading to a mortgage contract will be abolished. By removing the £5 limit the Treasury acknowledges there are occasions “when the appropriate advice is not to take out a mortgage” and paves the way for brokers to claim fees that reflect this. […]

Government launches corporation tax consultation

The government has launched a consultation on reforming the corporate tax system. Announcing the consultation, Dawn Primarolo, paymaster general, said: “In 1997 the government set out to reform and modernise the corporate tax system and boost the UK&#39s competitiveness in the global business environment. “The strategy and objectives underpinning these reforms were set out in […]

India budget: BJP focuses on growth

By Kunal Desai, Head of Indian Equities

With markets kept open on Saturday, finance minister Arun Jaitley delivered a promising budget focused on growth and decentralisation. While many complained about a six-day working week, there was much to be pleased about and the markets rallied in the afternoon to finish in the green.


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