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A look back at this week’s most read stories

  • 07/11/2014
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A look back at this week’s most read stories
Each Friday, Mortgage Solutions rounds up the most popular articles on the website over the past week.

1. FCA cautions lenders on overstrict affordability criteria

The Financial Conduct Authority (FCA) is asking whether lenders are thinking about their customer’s best interests when assessing affordability under the Mortgage Market Review rules.

2. Adviser loses appeal against prison sentence

A former mortgage adviser jailed for a £478k fraud – which included conning members of his own family – has lost an appeal against his prison sentence.

3. Over 50s with mortgages in repayment crisis – Saga

More than two thirds of the 6.3m over 50s with an interest-only mortgage, who had intended to pay it off with an endowment policy, say their underperforming policy will not foot the bill, according to Saga Personal Finance.

4. Disgraced Swinton CEO ‘sincerely’ regrets harm to customers

The former chief executive of Manchester insurer Swinton Group, who was fined and banned by the regulator for failures related to the mis-selling of insurance, said he sincerely regrets any harm he caused to his customers.

5. Manchester insurance firm bosses banned and fined for mis-selling

The Financial Conduct Authority (FCA) has fined three former senior executives of Manchester-based insurance company Swinton Group and banned them from performing senior roles after the mis-selling of insurance add-on products.

6. Barclays to reduce mortgage rates at 90% LTV

Barclays will cut mortgage interest rates for first-time buyers and those with smaller deposits on its fixed rate, 90% Loan to Value mortgage range.

7. Sesame restricted panel providers all deny breaching FCA inducement rules

All seven product providers featured on Sesame’s ‘focussed’ restricted advice panel have denied breaching the regulator’s rules on inducements.

8. Work up your remortgage contact strategy now, warns Barclays

Brokers are being urged to work their databases and start planning for the uptick in remortgage business which is sure to come soon, said Woolwich, mortgages from Barclays.

9. Sesame restricted panel providers all deny breaching FCA inducement rules

All seven product providers featured on Sesame’s ‘focussed’ restricted advice panel have denied breaching the regulator’s rules on inducements.

10. How to solve the pensions, housing and banking crises all in one

What would happen if crowdfunding cash was invested in buy-to-let? The Royal Institution of Chartered Surveyors (RICS) recently published a discussion paper on crowdfunding to ‘highlight the possibility that this sector, rather than the banking system, may well be the source of the next liquidity shock to the housing market’.

Have a fantastic weekend from the Mortgage Solutions team

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