Archive by Category: Article

Jul 20 – Keeping the housing market running

BY IN Article On 3rd August 2020

When Covid struck the whole of the UK housing market stopped.  Builders, estate agents, valuers and removal firms could not operate and they had to go into lockdown.  Like most of the UK they were facing into the unknown and [...]

20 hours ago / Comments Off on Jul 20 – Keeping the housing market running

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Jul 20 – Equity released, but not from FCA criticism

BY IN Article On 13th July 2020

The FCA has published findings from its 2019 exploratory work into later life lending.  These focus on the equity release sales and advice process, following a review of advice files from 13 of the largest and most experienced firms in [...]

3 weeks ago / Comments Off on Jul 20 – Equity released, but not from FCA criticism

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Jul 20 – Criteria says No

BY IN Article On 13th July 2020

When Rishi Sunak bounced the banks into mass payment deferral programmes, he also indicated that this would not impact a consumer’s credit score.  By the time Gov.uk set out their views in May on help with mortgages they stated that [...]

3 weeks ago / Comments Off on Jul 20 – Criteria says No

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Jun 20 – True Colours

BY IN Article On 16th June 2020

The first week of June saw the interim Chief Executive of the FCA make his boldest move since taking the reins.  In announcing that the FCA was invoking FSMA Section 165 powers linked to a data request to 13,000 firms [...]

2 months ago / Comments Off on Jun 20 – True Colours

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Jun 20 – Product value in insurance

BY IN Article On 16th June 2020

On 3 June the FCA published guidance on the value of insurance products (GI and pure protection). The focus is on products which, due to coronavirus, may not be able to provide the expected contractual benefits or there is a [...]

2 months ago / Comments Off on Jun 20 – Product value in insurance

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May 20 – Business as usual at FCA

BY IN Article On 11th May 2020

In its proposed fees budget for 2020/21, the FCA has considered the effect of any fee increases on small firms and has moved to freeze minimum fees and defer the payment deadline for the fees of small and medium sized [...]

3 months ago / Comments Off on May 20 – Business as usual at FCA

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May 20 – Putting remortgage to the sword

BY IN Article On 11th May 2020

As part of the Mortgages Market Study, the FCA said that more needed to be done to help ‘less active’ consumers who remain on their mortgage reversion rate at the end of any initial term.  This was also highlighted in [...]

3 months ago / Comments Off on May 20 – Putting remortgage to the sword

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Apr 20 – Keeping your customers safe

BY IN Article On 14th April 2020

It’s hard to believe that it’s been less than two weeks since the UK went into lockdown and Zoom, Microsoft Teams, WhatsApp and Skype became our preferred way to communicate.  In an industry that has always favoured face to face [...]

4 months ago / Comments Off on Apr 20 – Keeping your customers safe

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Apr 20 – Reserving judgement on FOS

BY IN Article On 14th April 2020

AMI has waited patiently for an update on FOS’ 2020/21 consultation, which arrived via a statement on, of all days, April Fool’s day with the final budget and summary of consultation feedback to follow.  Yet it would be foolish to [...]

4 months ago / Comments Off on Apr 20 – Reserving judgement on FOS

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Apr 20 – Opening the floodgates for execution-only?

BY IN Article On 14th April 2020

It was with an element of trepidation that I clicked on the link in an email at the end of January to read the long awaited and much discussed policy statement and final rules on mortgage advice and selling standards [...]

4 months ago / Comments Off on Apr 20 – Opening the floodgates for execution-only?

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