FTAdviser.com

Victims of corrupt advisers must speak up

Story by: David Pawsey, Mortgage Adviser

The reluctance of mortgage fraud victims to go to court means the FSA finds it far easier to ban brokers than the police find it to prosecute such corrupt individuals, the regulator said.

• Time published: 00:01
• Date published: 30.07.2008
• Published in: Mortgages

Cal reports business boost

Conveyancing Alliance Ltd has announced it has had a year-on-year increase for both new business submissions and users of its online trading platform.

• Date published: 30.07.2008

AXA adds more tools to its belt

Axa has made additions to its protection website to give advisers even more support in selling income protection and critical illness cover products.

• Date published: 30.07.2008

IFA Life to up networking stakes

IFA Life has unveiled an upgraded website for IFAs and mortgage advisers.

• Date published: 30.07.2008

New builds take price hit

Prices of new build properties are beginning to fall, according to online search engine Smart New Homes.

• Date published: 30.07.2008

Checkmate to launch lender

Checkmate Mortgages has confirmed plans to launch a new lender in early 2009.

• Date published: 30.07.2008

Lenders to cut distribution partners: Pink

More lenders are set to reduce the number of distributors they work with, according to Pink Home Loans.

• Date published: 30.07.2008

L&G offers advisers remit

Intermediaries can get feedback on the effectiveness of their protection advice with the use of a new tool launched by Legal & General.

• Date published: 30.07.2008

GE to up lost standards

GE Money Home Lending is working to raise standards at intermediary firms where redundancies have resulted in service standards slipping.

• Date published: 30.07.2008

Application fees soar 20% in less than a year

Borrowers are having to pay application fees that are on average 20 per cent higher than they did a year ago, research from Mform has revealed.

• Date published: 30.07.2008

Bridgers 'will get regulated'

It is only a matter of time before bridging loans come under the FSA's remit, warned Ryneveld van der Horst, finance director for Bridgingloans.com.

• Date published: 30.07.2008

House purchases continue to slump: BBA

Approvals for house purchases in June were 66 per cent lower than a year ago, creating a record low, according to the British Bankers' Association.

• Date published: 30.07.2008

Paragon talks of potential buy-out

Paragon has confirmed it has entered into discussions with interested parties over a potential buy-out of the firm.

• Date published: 30.07.2008

Triple split shows MPC strain

Members of the Monetary Policy Committee were split into three camps when voting on the Bank of England base rate, the MPC meeting minutes have revealed.

• Date published: 30.07.2008

FSA strikes against insurance firm

The FSA has continued its industry crackdown by fining an insurance firm £35,000 for failing to ensure suitable mortgage advice was given to customers.

• Date published: 30.07.2008

Advice quality remains alarmingly low: Which?

Mortgage advice has barely improved in the last two years, according to research conducted by consumer organisation Which?.

• Date published: 30.07.2008

Hoff to make Rock return to private sector hassle-free

Northern Rock's new chief executive Gary Hoffman will receive a basic annual salary of £700,000 when he joins the lender on 1 October.

• Date published: 30.07.2008

FSA fee hike could put advisers on the skids

Increasing regulatory fees could force some intermediaries out of the market, advisers have warned.

• Date published: 30.07.2008

Rooftop to end new lending

Rooftop Mortgages will officially close to new business on 30 July.

• Date published: 30.07.2008

Struggling borrowers to get special attention

Lenders treatment of borrowers who fall into arrears has come under the spotlight of the FSA.

• Date published: 30.07.2008

Woolwich adviser actions could see FSA intervention

Woolwich's practice of de-registering advisers who have not placed business with them within six months may come under scrutiny from the FSA.

• Date published: 30.07.2008

Lenders turn attention to Edeus success

Edeus has received interest from other lenders about its innovative approach to moving customers off its mortgage book.

• Date published: 30.07.2008

Abbey claims to top tree

Abbey looks set to topple HBoS from its place as the UK's biggest mortgage lender due to a significant increase in market share.

• Date published: 30.07.2008

Newcastle to extend tech developments

Newcastle's technological developments for its intermediary offering is to be extended to a mortgage proposition within the next 18 months.

• Date published: 30.07.2008

RBS aims to improve service it offers advisers

RBS Intermediary Partners will be among the best service providers to mortgage advisers in the market, Chris Pearson said.

• Date published: 30.07.2008

Accord cuts rates on credit repair range

Accord Mortgages has cut the rates on its credit repair products by up to 50 basis points.

• Date published: 29.07.2008

Eight arrested for insider dealing

City of London Police have arrested eight individuals for insider dealing in a joint operation with the Financial Services Authority (FSA) today (29 July).

• Date published: 29.07.2008

Mortgage fraud tops £20m in just six months

Mortgage fraud is becoming more prevalent, with the total money involved in cases topping the £20m mark for the first half of 2008.

• Date published: 29.07.2008

No consensus on how to kick start mortgage market: Crosby

There was no consensus among lenders and regulators about what it would take to kick start the mortgage finance market again, Sir James Crosby has just reported.

• Date published: 29.07.2008

Newcastle sees profits rise 5 per cent

Newcastle Building Society has reported a 5 per cent increase in profits in the first half of 2008 compared with the last six months of 2007.

• Date published: 29.07.2008

Abbey overtakes HBoS as largest UK mortgage lender

Abbey has overtaken HBoS as the UK's largest mortgage lender with an estimated 26 per cent share of the mortgage market in the first half of 2008.

• Date published: 29.07.2008

Lloyds TSB and C&G to reduce mortgage rates

Lloyds TSB and Cheltenham & Gloucester (C&G) will reduce a number of mortgage rates tomorrow (29 July).

• Date published: 28.07.2008

Accord unveils 5.49% two-year fix

Accord Mortgages has launched a two-year fixed rate mortgage at 5.49 per cent.

• Date published: 28.07.2008

FSA appoints former C&G MD as head of retail markets

Former managing director of Cheltenham & Gloucester Jon Pain has been named as the Financial Services Authority's (FSA's) new managing director of its retail markets division.

• Date published: 28.07.2008

Woolwich to cut rates on BTL range

Woolwich will reduce the interest rates on its key buy-to-let (BTL) mortgages tomorrow (29 July).

• Date published: 28.07.2008

Nationwide offers chance to be 'mortgage free'

Nationwide Building Society is giving 10 mortgage customers the chance to be 'mortgage free' for a year.

• Date published: 28.07.2008

Bradford & Bingley completes £2.9m securitisation

Bradford & Bingley has successfully completed a £2.9m securitisation, the lender has confirmed.

• Date published: 28.07.2008

John Charcol to relocate phone-based advice service

John Charcol has announced it will relocate its Brighton-based fee-free telephone-based advice service from Brighton to London.

• Date published: 25.07.2008

New Northern Rock chief to receive £700,000 pay packet

Northern Rock's new chief executive officer (CEO) Gary Hoffman will receive a basic annual salary of £700,000 when he joins the lender on 1 October.

• Date published: 23.07.2008

Mortgage advisers fail to provide quality advice

More than 90 per cent of mortgage advisers do not provide quality advice, according to consumer watchdog Which?.

• Date published: 23.07.2008

Change at helm of Northern Rock, new CEO named

Northern Rock has appointed Gary Hoffman as its new chief executive officer (CEO).

• Date published: 23.07.2008

Newcastle launches dedicated intermediary brand

Newcastle Building Society has launched a savings and lending brand dedicated to intermediaries.

• Date published: 23.07.2008

Housing purchase activity still dropping: BBA

The housing market is likely to be at its least active since the early 1990s according to the British Bankers' Association (BBA).

• Date published: 23.07.2008