Archive by Category: Article

Sept 19 – Who is Sonia

BY IN Article On 16th September 2019

Lenders are currently heavily involved in making plans for the abolition of LIBOR, however this may come as a bit of a surprise to intermediaries.  The lack of public utterances so far masks a vast raft of work going on [...]

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Sept 19 – Fearful of FOS

BY IN Article On 16th September 2019

The Financial Ombudsman Service is obliged to publish decisions which have been referred to an Ombudsman.  Firms should be looking at its website and searching for mortgage based decisions to update themselves on issues which might arise from the approach [...]

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Aug 19 – A fairer FOS

BY IN Article On 12th August 2019

FOS has now published proposals for its future funding having considered stakeholders’ feedback and the principles FOS has established in its previous conversations. It is proposing to rebalance the levy and case fee to aim for a 50:50 split, with [...]

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Aug 19 – Only the headline

BY IN Article On 12th August 2019

Freelance journalist Simon Read brought me sharply to attention when he wrote recently about whether anyone reads newspapers anymore.  The march of on-line and the ability to get anything on Twittersphere, Messenger or Whatsapp has totally changed “communication”.  As Trump [...]

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Jul 19 – The truth that comes from advice

BY IN Article On 30th July 2019

Following the financial crash in 2008, the Mortgage Market Review (MMR) introduced new rules in 2014 which followed a series of connected but distinct consultations that then produced an all-encompassing Policy Statement.  As part of this it is important to [...]

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Jul 19 – Intermediaries and the SM&CR – what is your culture?

BY IN Article On 16th July 2019

With less than six months before the FCA’s Senior Manager & Certification Regime (SM&CR) is extended across financial services businesses you might think that this is new regulation, based on filling in lots of forms.  Technically in law it is [...]

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Jun 19 – The big trapped borrower debate

BY IN Article On 24th June 2019

The issue of the trapped borrower or mortgage prisoner has been on the AMI agenda since the MMR was finalised in 2012.  We could be criticised for not getting enough traction on the issue until late 2018, but we were [...]

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Jun 19 – Calling order

BY IN Article On 24th June 2019

In an unprecedented step the FCA has issued a Dear CEO letter to a sector of the market before they have completed the firm authorisation process.  The issues with CMC’s have been expressed by advice firms of all types for [...]

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May 19 – Trapped in a three way tie

BY IN Article On 20th May 2019

The new affordability tests for existing borrowers proposed on FCA CP19/14 will allow lenders to disapply many aspects of the MMR affordability rules which have restricted the options of some borrowers.  It is proposed that the new simpler rules can [...]

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May 19 – Slaying the dragons of the MMR

BY IN Article On 20th May 2019

In deciding as part of its Mortgages Market Study that the market needed help by revising advice and selling standards, the FCA has made some interesting statements and assertions.  As one of the few still in their role from the [...]

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