James Coney  

Sipp flood becomes a torrent of trouble

James Coney

James Coney

For some of these investments it would have only taken a 30-second Google search to discover that they were very toxic indeed. One mis-selling claim I have seen involves a storage unit company that was investigated by a national newspaper in 2014, long before the regulators became involved.

A little more due diligence – in fact, any due diligence – would have given the providers some protection.

Mark my words, this is not going away and there is much more pain to come.

Desperate times

There was a lot of excitement in the national newspapers about the new Lloyds 100 per cent mortgage. Borrowers must have parental savings in a Lloyds account to offset the extra capital they want to raise, and to keep the rate low.

It is another sign of the increasing flexibility of lenders. It is also a sign, though, of their increasing desperation. The housing market is dribbling along, and affordability has been massively squeezed.

The innovation is a necessity if they are to keep the gravy train going.

Techie tweets

Pension nerds have really found a home on Twitter.

Any utterance about net pay pensions, flat-rate relief, or other complications in the system is leapt on by an army of actuaries, consultants, and technical experts who will keep discussing it for hours.

Before social media, this curious bunch would only be seen on the fringes of the Association of British Insurers conference.

Start up a chat about the accrual rate of the NHS pension scheme in a pub on a Saturday night and you will quickly be shown the door.

But on Twitter it is embraced. It is all very friendly, ever so geeky – and secretly I love it.

James Coney is money editor of the Sunday Times