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Mainly mortgage news…

Lloyds Banking Group on brink of 100% private ownership

Friday

Lloyds Banking Group is on the brink of being completely privately owned after the Government reduced its stake in the lender to less than 1 per cent. When the bank was bailed out after the financial …

Stamp Duty liable properties fall in Q1 but revenue up

Friday

The number of residential property transactions liable to pay Stamp Duty fell by 5 per cent in Q1 this year on a non-seasonally adjusted basis, according to statistics from HMRC. However, the number o…

Broker Focus: MOV8 Financial

Friday

Broker Focus is a weekly column that aims to amplify the voices of intermediaries up and down the country. Profiling a different mortgage broker every week, the column will ask a mix of light-hearted and professional questions about the individual, their firm and their take on the mortgage market. The last Broker Focus was on Xpress […]

The post Broker Focus: MOV8 Financial appeared first on Mortgage Strategy.

House price growth lowest since 2013: Nationwide

Friday

Annual UK house price growth in April was 2.6 per cent in April, the lowest level for four years, according to Nationwide. Average house prices fell 0.4 per cent month-on-month, and the standard UK pr…

Mortgage lending to hit 10-year high as affordability improves: IMLA

Friday

Mortgage lending will reach the highest level for 10 years this year, a white paper from the Intermediary Mortgage Lenders Association predicts. The paper, entitled ‘The new normal – prospects for 201…

Commercial Watch: Steady as she goes…

Friday

CBRE forecasts an average capital value decline of around 4 per cent this year, but a moderate recovery from 2018 Average commercial property values rose by 0.3 per cent in February, according to the CBRE index, bringing average capital values to within less than 1 percentage point of where they were prior to the EU […]

The post Commercial Watch: Steady as she goes… appeared first on Mortgage Strategy.

One to One: Carl Parker, Just Mortgages

Thursday

The benefits of supporting brokers to a very high level, helping advisers to take the first step into self-employment – and membership of Mensa As head of the self-employed division at Just Mortgages, can you tell us a little about the benefits of joining the company? We give brokers the autonomy to run their own […]

The post One to One: Carl Parker, Just Mortgages appeared first on Mortgage Strategy.

Plans for FCA to withhold fine discounts delayed in Lords

Thursday

New rules that could have allowed the FCA to withhold discounts to firms who settle on fines early, but do not take action to stop misconduct, have been put on hold as the regulator reviews its stance…

Editor’s Note: Snap, crackle and pop

Thursday

There’s nothing like an unexpected impending government announcement to get tongues wagging on news desks and social media of a Monday. As soon as the breaking news flashed up that Theresa May was set to speak outside 10 Downing Street the gossip began, and the theories thrown around on what the news could be were […]

The post Editor’s Note: Snap, crackle and pop appeared first on Mortgage Strategy.

Nye: Government schemes need simplification

Thursday

Government-supported saving schemes such as the Lifetime Isa are welcome, but the range is in dire need of simplification For first-time buyers and their advisers, the world of mortgages and home-owne…

Mainly IFA news…

Sunday Papers: M&S and Ocado plot food delivery shake-up

Today

And EU threatens Theresa May on trade talks and its citizens' rights as European leaders take hard line on Brexit.

Saturday Papers: UK growth slows sharply

Yesterday

And days of bumper bonuses numbered but bosses still celebrate while rising share prices are alarming investors over cost of long-term incentive plans.

OMGI to overhaul and rebrand multi-asset range

Friday

Clients will see reduced fees and the option to invest in high-risk portfolios.

Government delays state pension age decision

Friday

Timetable for state pension age rises was due to be made by 7 May.

Prando's Asset Management - Cover story

Friday

"Do you often come across advisers declaring their love for fund managers?" I asked the chairman of the improbably-sized investment company Prandeamus Asset Management as we studied the poignant wor…

Embark hires ex-SJP and Cofunds director

Friday

Mark Hopcroft becomes head of distribution at Embark.

OMGI rebrands multi-asset Spectrum range amid raft of changes

Friday

Old Mutual Global Investors (OMGI) is rebranding its multi-asset Spectrum range as the Old Mutual Creation Portfolios, as well as adding a new Adventurous portfolio and providing manager Anthony Gil…

FCA approves Embark's acquisition of EBS Management

Friday

Embark Group is set to complete its acquisition of Charles Stanley's pension business, EBS Management, after receiving 'change of control' approval from the Financial Conduct Authority (FCA). …

Succession acquires two advice firms for £4m

Friday

Adviser consolidator Succession has acquired two advice firms for a total consideration of £4m. The group acquired Wimbledon-based ethical wealth planning service Equity Invest and Pau…

Barclays drags FTSE lower as bank lags US 'big boys'

Friday

Barclays shares slump as bank misses out on bond trading boom of US rivals, but RBS jumps on first quarterly profit since 2015.

Tories on defensive as economy slumps more than expected

Friday

Chancellor Philip Hammond has been forced onto the defensive on Friday, as quarterly GDP growth slowed to 0.3% in the first few months of 2017. The official figure represents the slowe…

RBS posts first quarterly profit since 2015

Friday

The Royal Bank of Scotland posted a profit of £259 million in the first quarter, its first since 2015, in an expectation-busting set of results.

Succession buys two IFAs in £4m deal

Friday

Consolidator Succession has bought IFAs in London and Southampton.

CEO tapes: 'The only reason you get fired is relationships'

Friday

In the second instalment of Citywire's video interview with asset management chief executives, we discuss why relationships are more important than assets in fund management.

Pound shrugs off growth fall to hit seven-month high

Friday

Pound continues to gain ground ahead of general election, despite worse-than-expected figures showing just 0.3% UK growth.

Old Mutual Wealth boasts 'highest ever' flows in Q1

Friday

Old Mutual Wealth (OMW) has reported record inflows in the first quarter of 2017 with net client cash flows up 59% on last year, as the group also announces the appointment of Tim Tookey, chairman o…

Barclays profit rockets to £1.7bn

Friday

Profits at the bank more than doubled in the first quarter as its restructure starts to bear fruit.

FCA succeeds in striking out adviser's appeal against ban

Friday

The Financial Conduct Authority has succeeded with an application to strike out an appeal against his ban from the regulator.

Intrinsic boost drives Old Mutual to 'highest ever' flows

Friday

Increase in flows from Intrinsic advisers helped to drive Old Mutual Wealth to its 'highest ever' quarterly flow figures.

Scrap state pension for the rich, says OECD

Friday

The UK should scrap state pension entitlements for the highest rate tax payers in order to free up funds for the less wealthy, the OECD has said. The club said British pensions were lo…

Mainly insurance news…

Broking Break: Your Top 5

Friday

A recap of the stories that grabbed your attention this week featuring an exclusive story that took broking into the national press, Towergate, the aviation probe, and Aviva’s tech future.

InsurTech Futures: ERS partners with CGI on insurer hosted pricing system

Friday

Insurer aims to transform its relationship with brokers.

Quizzical questions: 28 April 2017

Friday

Test your knowledge of the week's news with our topical quiz.

UKBA: Winning the HNW gong improved business confidence

Friday

Lumley’s managing director says the firm has taken every opportunity to mention the win.

Car insurance flat in Q1 2017 but hikes inevitable thanks to “government blunders”, says AA

Friday

Average increase for comprehensive motor cover was 12.9% over the past 12 months.

Home premiums stable in Q1 2017 according to AA Index

Friday

However premiums are set to go up and will also be hit by a 2% IPT increase from June this year.

Swinton potential job cuts are sign of changing market

Thursday

But experts are not worried about the future of the personal lines broker.

Axa adds management liability product to Applied Systems TAM platform

Thursday

The product is targeted at limited companies, charities, UK clubs and associations and partnerships.

Towergate holding company posts £73m pre-tax loss for 2016

Thursday

Losses have reduced compared to the preceding year.

Towergate in "robust shape", says David Ross

Thursday

CEO states business is past its lowest point and starting to see organic growth.

InsurTech Futures: Brokers uptake of social media is growing

Thursday

Insurer finds that the use of social media is increasing but is unsure whether brokers are using it in a smart way to engage with customers.

Towergate posts Ebitda profit of £34.5m for 2016

Thursday

Income dips slightly to £324.6m.

Swinton puts 900 roles at risk of redundancy

Wednesday

Broker says it is to review its branch network to meet changing customer demands.

Berns Brett awarded chartered status

Wednesday

Lloyd's broker commits to CII's code of ethics.

Biba joins forces with Aston Scott on renovation scheme

Wednesday

Trade body says product is aimed at individuals or companies undertaking a renovation project.

Meet the techies: Iain Harper

Wednesday

Iain Harper, chief executive of InMyBag tells us why underwriters should be worried about InsurTech while brokers should see opportunities.

Firms received 3.04m complaints in second half of 2016, says FCA

Wednesday

Regulator states PPI is still most complained about product.

Pen and Markel in £25m equestrian sector deal

Wednesday

New partnership comes into force at the beginning of May.

InsurTech Futures: Aviva launches 'Ask It Never' initiative

Tuesday

Insurer aims to eliminate question asking process by using big data.

EU warns Britain not to assume free trade deal for financial services

Tuesday

Biba chief executive Steve White says trade body continues to ask for barrier free access to the EU market.

Mainly international news…

Pension trustees banned over £16m Fiji tree plantation scam

Friday

In a statement on its website, the regulator named the trustees as John Garry Williams (also known as Garry John Williams) and Susan Lynn Huxley. The pair acted as trustees to a defined contribution...

PEOPLE MOVES: Pictet, Intertrust Jersey, Nucleus

Friday

Pictet Pictet Asset Management has appointed Andy Wong as a Hong Kong-based senior investment manager within the multi-asset team. He will co-manage the Pictet Strategic Income fund, the firm’s Hong...

SA unveils new wealth tax to address ‘rampant inequality’

Friday

The Davis Tax Committee (DTC), set up in 2013 to review and make recommendations on South Africa’s tax system, has launched a consultation on implementing a new wealth tax. “The distribution of wealth...

Old Mutual exits India with sale of joint venture life stake

Friday

The agreement will see the shareholding in Kotak Mahindra Old Mutual Life Insurance pass on to joint venture partner Kotak Mahindra Bank, with an aimed for completion date during the second half of 2017....

How to get 7% returns using Schroders’ maximiser range

Friday

Patel also explains the strategy behind the asset manager’s maximiser range which claims to consistently deliver returns of 7% per annum. Please click on the video to listen to his views.

ANALYSIS: Is now the time to invest in active US equity funds?

Thursday

Trump has been moving markets since first being named as the next president of the US, but data suggests his appointment has failed to ignite any surge in interest in taking an active approach toward the...

IoM taxpayers to pay up for collapsed Eco Resources Fund

Thursday

The Eco Resources Fund convinced 189 investors to put $61m (£48m, €57m) into building a bamboo plantation in Nicaragua. An interim report by the liquidator Gordon Wilson said it was likely that Eco...

Seven IM unveils new model portfolio service

Thursday

Billed as a service for “advisers who want the services of a discretionary fund manager (DFM), but don’t necessarily want the DFM to meet with the end client,” the service launched earlier this month....

Uncertainty reigns as non-dom changes dropped at ‘11th hour’

Thursday

Earlier this week, the House of Commons made the shock decision to delay long-anticipated changes to the way non-UK domiciles are taxed, which were set to come into force on 6 April. The delay is a...

Invesco boosts global ETF offering with Source deal

Thursday

The acquisition will add around $18bn (£14bn, €16.4bn) in Source-managed assets to Invesco’s existing PowerShares offering, and an additional $7bn in externally managed assets. Source will be combined...

UAE to push ahead with major life industry overhaul

Thursday

The Insurance Authority (IA), in a draft circular released on April 25, has set out details of its planned overhaul of the life insurance and family takaful industry. It follows feedback from major...

Chelsea is latest football club embroiled in HMRC tax probe

Thursday

According to media reports, HM Revenue and Customs (HMRC) visited Chelsea’s Stamford Bridge stadium and asked for information related to the Wednesday morning raids of Newcastle United and West Ham. ...

Top challenges facing advisers in the UAE

Thursday

Story also explains the top challenges facings advisers in the region and why they should be using passive investments as a core part of their portfolios. Please click on the video to listen to his...

Beware of highly-leveraged US stocks

Wednesday

There has been a lot of talk about quality, bond-like companies in sectors such as consumer staples having been major beneficiaries of quantitative easing and the low-yield environment. These stocks with...

Qrops ‘fire sale’ averted as reforms survive Finance Bill cull

Wednesday

Speaking to International Adviser, she said: “I don’t think they [UK government] had much choice but to press ahead with the Qrops changes. There is an element of the horse has bolted, and trying to peddle...

Pension freedom withdrawals break through £10bn barrier

Wednesday

During the first quarter of 2017, £1.59bn was withdrawn, figures from HM Revenue & Customs revealed. The average amount withdrawn per person has fallen nearly every quarter and now stands at £9,034....

FCA upholds over two-thirds of UK pension complaints

Wednesday

Of the 47,128 complaints received against pension products 64% of these were upheld resulting in just under £21.5m being paid out to consumers in redress. Self-invested personal pensions (Sipps), stakeholder...