View more on these topics

Society must confront ‘financial shame’ says SFGB chief

Single Financial Guidance Body chairman Hector Sants says “society must confront financial shame” in a keynote address to delegates at a conference today.

He explained how the guidance body will look to boost financial awareness across the country at a Pensions Management Institute conference in London.

He said it will launch a consultation next Monday to gather views on how it should carry its role forward.

The listening exercise will roll into the autumn when it will publish findings that contains both a national strategy and a three-year business plan to achieve it.

He also said that the body wants to work with all stakeholders to boost the profile of financial awareness so it is seen as important as physical and mental health.

He added: “We have to help people develop the right behavioral attitude towards money. Society must confront the issue of financial shame and tackle the problems of debt.

“The SFGB wants to equip individuals through guidance to have better interactions with advisers and also work with advisers to help improve the financial awareness of people.”

The SFGB is due to be named the Money and Pensions Service on 8 April.



More joined up approach on advice for older borrowers needed, says CML

A more joined up approach to advice for older borrowers is needed to narrow the gap between mainstream lifetime mortgage advice ‘silos’ according to the Council of Mortgage Lenders. The report follows research carried out in conjunction with the Building Societies Association, which highlights that UK households headed by individuals aged 55 or over form […]

Govt’s £5bn loan book sale will “exacerbate mortgage prisoner woes”

The government’s £4.9bn sale of former Northern Rock loans to Citi bank will “exacerbate” the problem of mortgage prisoners and “make a mockery” of efforts to help this vulnerable group, according to Coreco’s Andrew Montlake. The sale announced by the Chancellor Philip Hammond today comes exactly a week after the Financial Conduct Authority revealed plans […]


Melton issues new RIO product

The Melton Building Society has launched a new RIO mortgage product. The offering is a 50 per cent LTV discount interest-only fix at 2.99 per cent. The product has a £199 application fee, a £199 completion fee and includes no maximum term or upper age limit past 65. The society will consider both earned income […]


Precise Mortgages launches new 3-year fix through Buy to Let Club

Precise Mortgages has launched an exclusive limited company buy-to-let three-year fixed rate mortgage through Buy to Let Club. The product is fixed at 3.54 per cent until 31 October 2019 up to 75 per cent LTV. It has an arrangement fee of 1.5 per cent. Early repayment charges are 3 per cent until 31 October […]


News and expert analysis straight to your inbox

Sign up