December 16 – FSCS supplementary levy
The Financial Services Compensation Scheme has today (1 December) issued its half year outlook report. This sets out the FSCS’s intention to ask the industry for further funds in addition to the usual annual levy. This will be invoiced late January or early February, to be paid within 30 days.
November 16 – The potential for read across
There has been recent focus on the general insurance market with the FCA demanding changes to the renewal process in order to encourage customers to shop around. From next year increased disclosure will be required from insurers and intermediaries to emphasise this. Price comparison websites in the GI market have also been highlighted as distracting […]
November 16 – Bring me a fairer tax system
The last year has seen an onslaught against the private rental sector landlord. There was broad consensus at the end of 2015 between government, the Financial Policy Committee and the Bank of England that steam should be taken out of the private rented sector. First there was the 3% stamp duty hike on second or […]
November 16 – Elections to the Board of the Association of Mortgage Intermediaries
As part of being an open and transparent body, which is fully representative of its members and their interests, the period for nominations for certain Board positions has been opened. These are part of the process where all Board positions are re-elected on at least a three year rolling cycle, although existing members of the […]
October 16 – Fishing for profit
The challenges facing the larger mortgage lenders could not be more intense. With house prices coming off their peak in London, the start of the withdrawal of Help to Buy, more new entrants and larger players like HSBC and TSB taking market share, base rate at record lows and having to manage ring-fencing and horizon […]
October 2016 – Need for Advice
The Mortgage Market Review rightly recognised the need to establish, through advice, not what the customer thinks they want but what they genuinely need, as being a core cornerstone of the future market. The move from the pre-MMR position of many customers merely selecting the cheapest product via a non-advised offering to receiving advice has […]
October 2016 – Open Season
The political and regulatory agenda shows no signs of slowing down. With Theresa May now setting out her vision for her new government, the core promise was that a new United Kingdom with renewed sovereign powers would have a government prepared to intervene more in markets where it sees reasonable justification to resolve issues. The […]
October 2016 – Ageing population
The FCA seems to be taking positive steps in its work on the ageing population. It launched this project at the beginning of the year by issuing a discussion paper inviting the industry to suggest the focus of its work. Following the feedback, it received, the regulator has now provided an update. It is encouraging […]
September 2016 – Introducing standards
With the introduction and upcoming expansion of the Senior Managers’ Regime, and diminishing of direct supervision, there is an increasing need to move towards self-regulation. Firms will need to ensure responsibilities are clearly allocated and as the consequences for misconduct will be higher, there will no doubt be a strengthening of processes. One area which […]
September 2016 – A bounce in our step
With the news that the July CML gross lending figures came in at £21.4bn, it gave me a bit of a bounce in my step. With gross lending having grown solidly through 2013 to 2015, we were hopeful at the start of the year of perhaps a rise from the 2015 number of £220bn to […]
