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Mainly mortgage news…

Former Lloyds bosses sue for unpaid bonuses

Yesterday

Former Lloyds Banking Group chief executive Eric Daniels is taking the bank to court over failure to pay bonuses amounting to hundreds of thousands of pounds. Daniels is joined by former head of whole…

Mortgage sales fall £1.8bn in June, says Equifax

Yesterday

Mortgage sales for the UK fell by £1.8bn in July, down 10.8 per cent on June, according to Equifax Touchstone. Residential figures fell 12.8 per cent, or £1.8bn, to £12.2bn. Buy-to-let figures fell by…

Doorstep lender issues profit warning as CEO steps down

Yesterday

Lender Provident Financial has released a trading statement announcing the resignation of its chief executive as it issues a profit warning. Chief executive Peter Crook has stepped down and Manjit Wol…

Skipton trims interest-only rates

Yesterday

Skipton Building Society has cut rates on its interest-only mortgage range. The residential interest-only range provides 60 per cent, 70 per cent and 80 per cent LTV products for purchase and remortgage customers. The range includes a fee-free two-year fix at 1.69 per cent to 60 per cent LTV, having been cut by 0.10 per […]

The post Skipton trims interest-only rates appeared first on Mortgage Strategy.

Secure Trust open to future mortgage securitisations

Yesterday

Secure Trust Bank is leaving the door open to mortgage securitisations in the future, according to the firm’s half-year results. The lender has hired a treasurer with securitisation experience in case…

Residential property transactions up 8.3% in year to July: HMRC

Yesterday

Seasonally adjusted statistics from HM Revenue and Customs show that there were 104,760 residential property transactions in the UK in July. The figure reflect a rise of 1.3 per cent in transactions f…

Leeds adds buy-to-let cashback deals after broker feedback

Yesterday

Leeds Building Society has added £500 cashback deals to its buy-to-let mortgage range following broker feedback. The lender says it is making the move because of “ongoing pressures” with remortgage co…

ASTL appoints new executive committee

Yesterday

The Association of Short Term Lenders has appointed its new executive committee for the upcoming year. Chief executive Benson Hersch will be joined by Adrian Bloomfield (Barton Bridging Capital), Bria…

Principality promotes new chief financial officer

Monday

Principality Building Society has promoted Tom Denman to chief financial officer. Denman (pictured) was previously deputy finance director and joined the lender in 2009. The building society appointed…

BM Solutions unveils portfolio landlord lending approach

Monday

  BM Solutions has laid out the details of how it will tackle portfolio buy-to-let underwriting when  Prudential Regulation Authority brings in tougher underwriting standards from 30 September. The ne…

Mainly IFA news…

Miners lead FTSE rally as profits and dividends rocket

Yesterday

BHP Billiton and Antofagasta reveal soaring profits and dividends, driving their shares to the top of the FTSE 100.

Woodford 'hugely disappointed' as Provident crashes

Yesterday

Neil Woodford says Provident Financial will 'get back on track' as shares crash on FCA investigation, scrapping of dividend and departure of boss.

Paul Darvill: Is now the perfect time to switch SSAS provider?

Yesterday

Paul Darvill looks at the enduring popularity of SSAS for small business owners but asks if it could be time for advisers to mixing it up when it comes to providers Small …

SimplyBiz adds second DB transfer partner

Yesterday

The support services provider responds to increasing demand for DB transfers by adding another outsourcing partner.

T. Rowe Price hires AIMS manager ahead of multi-asset push

Yesterday

Asset manager makes senior appointment as part of plans to aggressively grow capabilities.

Woodford 'hugely disappointed' by Provident Financial but retains holding

Yesterday

Shares in sub-prime lender Provident Financial have plummeted by 65% in early trading after the firm's CEO announced he is quitting his role as the firm unveiled its second profit warning i…

Axa Wealth staff face job cuts after Phoenix acquisition

Yesterday

Workers at Axa Wealth's Basingstoke and Bristol bases are facing possible job losses following the firm's acquisition by Phoenix Group last year. Phoenix bought Axa Wealth's p…

Sandringham hires recruitment director to drive up adviser numbers

Yesterday

Sandringham Financial Partners has appointed former True Potential sales director Phil Newton as its recruitment director, as part of plans to drive up the firm's adviser numbers. …

Pensions regulator prosecutes ex-BHS boss Chappell

Yesterday

Chappell is facing a court appearance over failing to provide information to TPR.

Advisers must promote paraplanning or face hiring crisis

Yesterday

A senior paraplanning role in the City offering up to £70,000 a year has so far not had a single interviewee, according to a financial services recruitment firm.

Pensions Regulator to prosecute ex-BHS owner Dominic Chappell

Yesterday

The Pensions Regulator (TPR) is to prosecute Dominic Chappell for failing to provide information and documents it requested during its investigation into the sale of BHS. Chap…

Brexit negotiations must include state pension rights - Aegon

Yesterday

The outcome of Brexit negotiations could mean UK pensioners are left worse off in terms of state pension entitlement if they have failed to bank 10 'qualifying years' in the UK but have wor…

Sipp firm settlements suggest turning point in claims cases

Yesterday

One sipp firm has settled claims cases against it before final FOS decision have been released, reopening the issue of if Sipp firms are liable.

Lloyds credit crunch boss sues for unpaid bonuses

Yesterday

Eric Daniels is suing Lloyds for £500,000 in unpaid bonus, according to reports.

Start-up PensionBee launches non-advised drawdown

Yesterday

The pension consolidator has launched a product it hopes will gives consumers more control over their pensions.

Overnight Markets: S&P 500, Dow gain after recent selloff

Yesterday

However, geopolitical concerns are still weighing on investor sentiment.

Tuesday Papers: Rosneft finalise $13bn takeover of India’s Essar

Yesterday

And Murdoch family faces High Court challenge over 'fit and proper' finding in Sky takeover.

Retirement Advantage launches buy-to-let equity release range

Monday

Retirement Advantage has launched a range of equity release products for buy-to-let landlords and second home owners. The ‘Landlord Options' is a series of three products for …

Martin Jones: Don't ignore pension freedom in IHT planning

Monday

Pension freedom may have been around for two years now but its effects are still filtering through into other areas of financial planning. Here Martin Jones considers the role it can play f…

Mainly insurance news…

Ecclesiastical's pre-tax profit surges with investment returns in first half of 2017

Yesterday

Underwriting profit declined to £9.6m while the combined operating ratio slipped to 90.5%.

Ascot launches new MGA and hires Michael Sillat to lead

Yesterday

The Lloyd’s insurer said it wants to invest and build a global property and casualty insurance and reinsurance platform.

InsurTech Futures: Hiscox partners with start-up Digital Fineprint

Yesterday

Aim is to use social media data to tackle underinsurance in small businesses.

Ansvar launches two charity products

Yesterday

Offering live on Acturis with new facility on insurer's online platform to follow.

Meet the Leeds Expo panellists: Simon Mabb

Monday

The Romero managing director delves into the rivalry between Leeds and Manchester and explains why local brokers must attend the regional Expo.

Verisk to buy Sequel for £250m

Monday

US-based Verisk hopes to build its footprint in the UK with Sequel which provides software to the London Market.

Broker Apprentice: Apply to take part today!

Monday

Are you the best new broker in the business? Submit your application by 11 September to be in with a chance of winning Broker Apprentice 2017.

Protectivity Insurance launches online portal

Monday

Sport and leisure specialist says portal gives brokers access to its commercial combined products.

Ageas teams up with CDL on Flood Re solution

Monday

Insurer says aim is to extend broker access to the scheme.

Lark boosts profit ahead of Aston Scott merger

Monday

The company reported increased profit after tax of £5.47m.

Losses bite at Ageas Retail after Kwik Fit closure

Monday

Shutting the Kwik Fit Glasgow office cost the business £27.2m.

Broking Break - Your Top Five

Friday

Aquisitions, profits, gadgets, people moves and complaints hit the headlines this week and make up the top five most popular stories.

New motor fleet MGA launched

Friday

TeleFleet to build offering using telematics data.

Quizzical questions: 18 August 2017

Friday

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

Fiducia opens Birmingham office

Friday

The MGA has also launched a marine trades facility for the UK regional marine market.

Hiscox adds drone cover and more to home insurance product

Friday

According to the insurer the enhanced product takes into account new and emerging risks such as cyber.

Staysure snaps up travel rival Avanti

17 Aug 2017

The Avanti brand will be kept.

GWP slips to $2.39bn at QBE Europe in half year results

17 Aug 2017

COR, excluding Ogden effect, worsened to 91.3% .

Meet the Expo Leeds panellists: Jon Newall

17 Aug 2017

The principal at Lockyers chats about the local market ahead of Broker Expo Leeds.

ASA reveals insurance advertising complaints

17 Aug 2017

Data shows that there have been 366 complaints so far this year but the number of year-on-year complaints is falling.

Mainly international news…

S Africa inks key legislation to overhaul financial regulation

Yesterday

The Act, also known as the ‘Twin Peaks’, will see the existing Financial Services Board (FSB) transformed into a dedicated market conduct regulator, called the Financial Sector Conduct Authority, and the...

Inflows stall across emerging market funds in first for 2017

Yesterday

Emerging Market equity funds tracked by data provider EPFR Global posted their biggest outflows since the last week of 2016 when the 21-week run of inflows came to an end Emerging Markets bond funds...

Canada professionals hit out at stricter voluntary disclosure

Yesterday

The Canadian Bar Association (CBA) and the Chartered Professional Accountants of Canada (CPAC) released a joint document as part of the consultation process into plans by the Canada Revenue Agency (CRA)...

Unigestion joins MFEX platform to target intermediaries

Yesterday

Adding Unigestion’s Sicav fund range to the MFEX platform marks the latest step in the firm’s growth in the intermediary market space, following its registration with Allfunds Bank in March this year....

Qrops transfer rights secured but specialist advice essential

Yesterday

As part of its crackdown on pension scams, HM Treasury confirmed on Monday that it will limit the statutory right to transfer pensions but will extend the proposed criteria to include qualified recognised...

PEOPLE MOVES: Standard Life Aberdeen, Aviva Investors, HSBC

Yesterday

Standard Life Aberdeen Newly-created asset management colossus Standard Life Aberdeen has appointed a head for its onshore China business. Amy Wang, formerly head of institutional business for greater...

Aussie watchdog reports 300% jump in misconduct compensation

Yesterday

This is up 288% from the A$159.4m secured for the compensation and remediation of consumers and investors in the period from 1 July to 31 December 2016. Busy year The latest report from the Australian...

Deutsche AM defends listed infrastructure investment

Yesterday

Listed infrastructure products have mushroomed on the back of the newfound interest among medium to small investors. In 2006, there were nine listed infrastructure mutual funds and no listed infrastructure...

Analysis: UK Government needs to act quickly on cold calling

Monday

Having scrapped the original legislation because of the snap general election, the government has announced plans to ban cold calling on pensions have been revived and extended to unsolicited emails and...

Government revives pensions cold calling crackdown

Monday

The original ban, announced in the Autumn Statement 2016, was put on hold when the Conservative Government called a snap election in May.  The latest version will ban not just telephone calls but also...

UK retirement income down 46% since the financial crash

Monday

This hidden squeeze on pension incomes is a result of the combined effects of a real-terms fall in wages, lower market returns and greatly reduced returns on annuities in the decade since the credit crunch...

Legal challenge against Fatca shut down by US appeals court

Monday

The taxes were established by the Foreign Account Tax Compliance Act (Fatca) in 2010 and have been described by attorneys representing several US citizens as “draconian”, reports legal news site Courthouse...

Goldman Sachs gets Saudi equities trading licence

Monday

Western financial institutions have been looking to tap into new opportunities in Saudi Arabia since the government introduced reforms to attract foreign capital as part of moves to reduce the economy's...

South African tax amnesty on undeclared offshore assets flops

Monday

The tax amnesty on undeclared foreign assets, which the government had hoped would yield billions of rand in additional revenue, has been a flop, reports local newspaper Business Live. To date, the...

UK to limit right to transfer pensions but will include Qrops

Monday

The Treasury said pension scam activity is particularly focused arounds transfers to apparently legitimate pension schemes. These schemes are established or operated by fraudsters for the purpose of...

Some workers exempted from Saudi expat tax

Monday

The exempted contractors include those currently working on projects scheduled to be completed after 2018, reports newspaper Saudi Gazette, citing Arabic newspaper Al-Watan. Expat tax Since July...

European Wealth revamps fund to attract clients in Far East

Monday

The £1bn ($1.29bn, €1.1bn) fund has been renamed the European Wealth Global Managed Strategy Fund and will no longer invest solely in equities. From 11 August this year, the fund has moved away from...

In most sectors, indices beat active funds over a decade

Monday

Adding to the debate on the merits of passive and active investing styles, FSA looked at 10-year performance data of mutual funds registered for sale in Hong Kong in a few selected sectors and compared...

Vietnam rolling out welcome mat for int'l life companies

Monday

Vuong said the government will also work to raise public awareness of life insurance in the country, reports Vietnam News Agency. He reportedly told the chief executive and president of AIA Group,...