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Mainly mortgage news…

Over 60,000 shared ownership loans sold since 2006: CML

Yesterday

New data from the Council of Mortgage Lenders has revealed that there were more than 60,000 shared ownership mortgages advanced since 2006. The CML is looking to provide more information on the sec…

PRA eases rules around high-LTI lending

Yesterday

The Prudential Regulation Authority has relaxed rules around the proportion of high loan-to-income mortgage lending firms are allowed to do. In June 2014 the Financial Policy Committee recommended …

‘Crackers’ house-buying process needs industry response: Atom Bank

Yesterday

The house-buying process is “crackers” and needs a cross-industry response to simplify it, according to Atom Bank director of retail mortgages Maria Harris. Speaking to Mortgage Strateg…

Market Watch: Forecasting is a guide, not an absolute

Yesterday

Economists cannot possibly predict the future but they should act more responsibly to warn us of potential threats There has been much talk about the Bank of England’s ability to keep us from anoth…

Magellan Homeloans to sell through PMS Mortgage Club

Yesterday

Magellan Homeloans will be selling its full range through PMS Mortgage Club. The range includes the lender’s complex prime and credit repair products, designed for borrowers often turned down…

Bluestone Mortgages signs up David Torpey as managing director

Yesterday

Specialist lender Bluestone Group has appointed David Torpey as managing director of Bluestone Mortgages and group chief operations officer. Torpey will join from BlueStep Bank AB, where he is dire…

Tipton and Coseley and shared ownership fixed rate products

Yesterday

Tipton and Coseley Building Society has added new shared ownership fixed rate mortgage products for purchases and remortgages. The rate on the new products, available in England and Wales, is 3.69 …

Editor’s Note: Golden years?

Friday

In this week’s cover feature we’ve taken on the timely topic of lending to older borrowers: an area that, on closer scrutiny, is far more complex than it may first appear to an outsider. While the plight of first-time buyers is well known, older aspiring mortgage borrowers are also struggling in the background. Bigger lenders […]

The post Editor’s Note: Golden years? appeared first on Mortgage Strategy.

FCA review to examine product over lender switch, predicts Pike

Friday

The FCA’s market review is likely to examine the reasons why borrowers choose to switch product rather than lender The FCA’s interim report on its mortgage market study is due out in the summer, wi…

PRA consults on capital requirements to improve competition

Friday

The PRA has moved to ensure fair competition for smaller banks and building societies in its capital requirement expectations through a number of proposals. As part of its Annual Competition Report…

Mainly IFA news…

Government to change financial advice definition for regulated firms

Yesterday

The government is to change the definition of financial advice for regulated firms - replacing, with effect from 3 January 2018, the two existing interpretations with a single one…

Old Mutual set to buy Caerus advice network

Yesterday

After months of talks between the Caerus network and Old Mutual Wealth-owned Intrinsic, a deal is set to be announced to by Caerus.

Cronan MacMahon: Is your 'active' fund really a tracker in disguise?

Yesterday

For those looking to identify the best active managers who can consistently outperform their benchmarks, says Cronan MacMahon, considering active share ratios in association with …

Coutts changes T&Cs to allow for negative interest rates

Yesterday

Letter sent to clients informs them of the change to the bank's terms and conditions.

Sterling falls to two-week low on reports of second Scottish referendum

Yesterday

Sterling fell to a two-week low against the dollar this morning following reports the Scottish National Party (SNP) is preparing to demand a second referendum on Scotland's indepe…

Meet the Investment Influencers: Smith & Williamson's James Burns

Yesterday

In this week's video interview for Professional Adviser's Investment Influencers series, where we chat to the most respected individuals who select funds, decide ratings or otherw…

Two new EIS funds open amid sector demand

Yesterday

Seneca Partners and Deepbridge have both opened their second tax-efficient offerings of the tax year as investors fight to secure places in their preferred funds across the sector…

Tyrie highlights 'financial calamity' of film tax break clampdown

Yesterday

Treasury Select Committee chairman Andrew Tyrie has written to Chancellor Philip Hammond, highlighting the "very severe financial stress" caused to investors by the clampdown on t…

HMRC denies in-specie tax relief to 34 Sipp providers

Yesterday

FOI shows the scale of the challenge is wider than previously thought.

Barclays appoints UK chairman

Yesterday

Sir Ian Cheshire, ex-boss of B&Q-owner Kingfisher, has been appointed a non-executive director of Barclays PLC and the new ring-fenced bank Barclays UK.

Top consulting trio respond to FCA after investigation request

Yesterday

Aon Hewitt, Mercer and Willis Towers Watson have submitted package 'designed to advance transparency' to the FCA.

FTSE rises as pound hit by Scottish referendum fears

Yesterday

Pound falls, boosting FTSE 100, on renewed concerns of a UK post-Brexit break-up. Car insurers tumble on change to compensation rules for personal injuries.

MAS: online services are burying asset management charges

Yesterday

A new wave of so-called robo-advice offerings must make their charges explicit or risk causing 'systemic problems', a financial technology panel has warned.

FundCalibre launches Elite ratings for investment trusts

Yesterday

FundCalibre has expanded its fund research to include investment companies, awarding an initial 11 trusts its Elite rating.

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Lifeboat scheme warns against DB pension plan

Yesterday

A proposal to allow stressed companies to separate themselves from their workers’ define benefit schemes would leave members’ pensions vulnerable to market volatility.

Warren Buffett: Vanguard founder is my ‘hero’

Yesterday

In his annual letter, the 'Sage' of Omaha has said Jack Bogle as ‘hero’ for protecting millions of investors from high cost active management.

Don't bank on a flexible retirement says Royal London

Yesterday

A flexible retirement, where people carry on working to top up pension income, is a ‘mirage’ according to insurance giant Royal London, and will result in having to work well past age 70.

Tom Hopkins: The 'SEISmic' shift going almost unnoticed

Yesterday

The power of seed investing and its hugely generous tax reliefs are not being fully exploited by advisers - and clients could be missing out, argues Tom Hopkins City of London Police arrested two men and a woman suspected of acting as unregistered insurance brokers.

QBE's retail business performed well, says Pryce

Yesterday

QBE Europe chief also said he welcomes a review of the discount rate as quickly as possible.

RSA warns SMEs facing new risks

Yesterday

Brokers must be aware of changing risk landscape according to SME and insurance experts.

Hiscox achieves strong growth in SME, says Langan

Yesterday

MD of Hiscox UK says provider sees opportunities to grow its UK broker book.

GWP down 7% to $4.1bn at QBE Europe in 2016

Yesterday

COR worsened to 93.6% in the insurer's results.

Video: Succession planning (1) - the latest wave of consolidation

Yesterday

Phil Bayles, chief distribution officer, intermediaries at Aviva joins Insurance Age editor Emmanuel Kenning in the studio.

Hiscox UK and Ireland GWP up 12.5% in 2016

Yesterday

Profits for UK and Europe doubled in the past 12 months.

PwC warns of motor rate hikes up to £1,000 after discount rate cut

Yesterday

Specialists note that SMEs will also be hit by increased rates.

#insagepeople: 27 Feb - 5 March 2017

Yesterday

Keep up to date with the latest people moves.

ABI slams “crazy” decision to cut discount rate to minus 0.75%

Yesterday

Trade body warns that up to 36 million customers could face higher premiums after the decision.

Insurers hit as discount rate cut from 2.5% to minus 0.75%

Yesterday

The new rate will be effective 20 March 2017.

Travelers confirms logo dispute with Brolly

Friday

Insurer says it takes its responsibility to protect its brand seriously.

Open GI posts continuing growth for 2016

Friday

Profits stable as technology provider ramps up investment.

InsurTech Futures: Brightside partners with digital agency

Friday

Broker says aim is to be fully digitised within three years.

Insurer threatens broker Brolly over logo

Friday

Brolly is now set to crowdsource a new logo following the dispute.

Quizzical Questions: 24 February 2017

Friday

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

Heritage teams with Alps for classic car cover

Friday

The motor broker will provide Alps breakdown cover to customers with single and multiple classic car policies.

Broking Break - Your Top Five

Friday

What insurer bosses had to say about their firm’s 2016 results, changes in technology and the Ogden rate, and a court case make up the top five.

Steve Lewis hails best RSA numbers in a decade

Thursday

UK CEO says insurer is now focused on organic growth and wants to make broker trade “easy”.

Axa to "invest heavily" in brokers and innovation

Thursday

Group CEO for UK & Ireland, Amanda Blanc, says insurer sees continued growth in motor and across commercial lines.

Mainly international news…

Warren Buffett slams high fees, fetes Vanguard founder

Yesterday

In his annual letter to shareholders, the world’s most famous investor was as effusive in his praise of Bogle as he was in his disdain for the high fees charged by Wall Street. “If a statue is ever...

Sanlam to launch artificial intelligence investment service

Yesterday

This fully automated service is designed to eliminate human emotions from decision making, adapt quickly to changing markets and improve the consistency of investment goals. The investment engine,...

Harlequin nears liquidation after court refuses more time

Yesterday

The company entered insolvency proceedings in 3 October 2016. A third application by Harlequin chairman David Ames, for an extension from 30 January to 15 March to file its proposal, was rejected on Friday....

European robo-adviser ETFmatic to target IFAs

Yesterday

Speaking to International Adviser, co-founder Luis Rivera said the robo-adviser, which launched last May, is considering a potential tie up with financial advisers in the UK and rest of Europe. “We...

HMRC rejects film industry tax avoidance criticism

Yesterday

In a letter to chancellor Philip Hammond, the Conservative member of parliament wrote: “If a tax avoidance scheme is found by the courts to be illegal, then investors in the scheme have no option but to...

EU gives Spain two months to scrap ‘unfair’ expat fines

Yesterday

Introduced in 2012, Modelo 720 requires every Spanish resident to declare all their foreign assets worth over €50,000 (£39,353, $56,762). The penalties for late reporting or failing to report assets are...

Asia fund professionals bullish on global economy

Yesterday

In an informal survey of participants at the FSA Income Forums in Hong Kong and Singapore, about 80% of respondents said they have a positive or very positive outlook on the global macro economy over the...

Harvest Global grows international distribution

Yesterday

The company has hired experienced executives in sales and business development for Japan and Korea, the UK and Europe and the US, while bolstering its operation that services financial institutions in...

Challenging the status quo of an ‘outdated industry’

Yesterday

This means challenging the status quo of what we feel is a largely outdated industry, by thinking, acting and advising in an entirely different way to the direct sales forces, brokerages and networks within...

Why all int’l advisers must pay attention to the UK regulator

Yesterday

The UK has one of the most complicated pension regimes in the world, and when a client comes along who has pension arrangements in different countries at various stages in his or her life the complexity...

Only 15 in Ireland disclose offshore assets as deadline looms

Friday

In his speech last autumn, Noonan signalled that, from 1 May 2017, anyone with undeclared offshore assets will no longer benefit from significantly reduced penalties and the chance to remain anonymous...

Brexit database to be launched for British expats in Europe

Friday

Research funded by the UK's Economic and Social Research Council (ESRC) aims to create a one-stop shop for reliable updates amid fears misinformation could prompt hundreds and thousands of British expats...

Malta slammed over ‘aggressive’ tax planning rules

Friday

The country-specific report, published earlier this week by the Commission, found that the absence of certain anti-abuse rules and a lack of withholding taxes on dividends, interests and royalties payments...

PEOPLE MOVES: Canaccord, Cigna, NN IP

Friday

Canaccord Genuity Canaccord Genuity Wealth Management has appointed David Scammell as business development director responsible for driving the firm's growth in south-east Asia. He joins from Brooks...

South Africa budget targets high earners with top rate hike

Friday

The new tax bracket, which was previously set at 41%, applies to annual incomes of more than ZAR1.5m ($114,000, £91,000) and is expected to hit around 100,000 people, including some of the thousands of...

Standard Life sees 20% rise in offshore bond business

Friday

Offshore assets on the company’s platform rose to £2.5bn ($3.1bn, €2.9bn) in 2016, up from £2.1bn at 31 December 2015, according to the insurer’s full year results. Total AUA for international bonds...

Drawdown beats annuities but pension cash is king

Friday

Summing up the Financial Conduct Authority's (FCA) latest figures, Tom McPhail, head of retirement policy at Hargreaves Lansdown, said: “Broadly, cash withdrawals are twice as popular as drawdown and drawdown...

UK's Prudential to enter DB transfer advice market

Thursday

The move comes just weeks after the Financial Conduct Authority issued a warning to firms involved in the rapidly growing pension transfer market to be more careful about which assets they put their client’s...

Axa reports record revenues as CEO rules out Generali bid

Thursday

The insurer said it has continued to grow it’s life and savings business, spurred on by “our profitable protection & health and capital light savings businesses”, it said on a statement on Thursday. ...

Adviser network Nexus Global expands to Latin America

Thursday

Founded by Chris Emmott and Daniel Busman, EBG International offers a choice of fee-based, commission based, or blended remuneration structures. Emmott said the choice of remuneration structures “enables...