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Osborne backs Lagarde for second IMF term

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Chancellor George Osborne has backed Christine Lagarde for a second term at the helm of the International Monetary Fund.

Osborne has nominated Lagarde to serve another five-year term as managing director at the IMF, with her current term ending in July.

Today marks the start of a three-week nomination period for the next IMF head, after which the board of 24 directors will select the best candidate.

Lagarde has indicated she wants to stay at the IMF, although some in other regions have questioned the continued presence of a European leader for the group.

Lagarde’s nomination may be marred by the fact she faces a possible criminal trial in France, in a case involving a payment to businessman Bernard Tapie in 2008.



Self-cert mortgages return as new lender opens

The return of controversial self-certification mortgages has been confirmed with launch of today. The start-up, backed by private equity investors and based in the Czech Republic, launches with a tracker loan set at 2 per cent above base rate, the Sunday Times reports. will lend up to £500,000 at 85 per cent loan-to-value […]


‘Banned’ self-cert loans set for return

A new lender is looking to bring back self-certified mortgages at the start of next year. The FCA banned so-called ‘liar loans’ in the Mortgage Market Review. However, Graeme Wingate, the founder of unsecured lender Quick Loans, is looking to bypass UK regulation by setting up in an Eastern European country, the identity of which […]

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Precise Mortgages up for sale

Precise Mortgages is seeking a new backer to fuel its growth ambitions, Mortgage Strategy understands. The lender appointed Deloitte in the summer to tout out potential buyers, although it is understood the information memorandum will be sent to firms in the coming days. The sale includes all companies under the Charter Court Financial Services umbrella, […]

Mortgage Mole: Running men

With the over-indulgence of Christmas a fading memory, Mole was impressed to hear that a group of industry insiders have already pledged to run the 2016 London Marathon. Investec Private Bank’s Peter Izard, Brightstar Financial’s Jeff List, Front Events’ James Prosser and Barcadia Media’s James Lucas are running to raise money for WellChild, a charity […]

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Pensions: trouble ahead?

The pace of change in the pension’s space has been little short of astonishing, and has left thousands of employers struggling to keep their pension policy compliant, and also on the right side of current best practice and governance. Many employers, and indeed many in the pensions industry itself, would like to see a period of no change during the next term of government. This would give all sides a chance to catch up and draw breath. 


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