Most read stories of last week:
FSCS declares 21 firms in default
The Financial Services Compensation Scheme (FSCS) has declared 21 investments firms in default, including a number of independent financial advisers and mortgage brokers.
Santander blames SVR rise on higher banking costs
Santander, the UK’s second largest mortgage lender is set to hike its Standard Variable Rate (SVR) by 0.50% from 4.24% to 4.74%, a move expected to affect several hundred thousand customers.
The parallels between BTL and Fifty Shades of Grey
John Eastgate, sales and marketing director at Kent Reliance blogs: “My tenuous link to Fifty Shades of Grey is that I think that, if there really were fifty shades of grey and they spanned the range of economic performance from boom to bust, the buy-to-let market would still have a place and be strong at every point in that monochromatic spectrum.”
Former Honister adviser jailed for £380k fraud
A former Honister adviser has been jailed for two years and nine months for swindling clients out of £380,000.
HMRC swoops on £200m in tax avoidance crackdown
Her Majesty’s Revenue & Customs (HMRC) said it has prevented some £200m from being diverted from the Exchequer after winning three court decisions against tax avoidance schemes.
Stories you may have missed:
Wonga confirms mortgage market launch “some way off”
Wonga.com has denied plans to make a move into mortgage lending and money transfers anytime soon, after a story in The Telegraph suggested the payday loan lender was gearing up for the move.
SVR hikes could spark remortgage rush – L&G
With a number of big lenders increasing Standard Variable Rates, the market could be set for an uptick in remortgage business, Legal & General has said.
Shapps welcomes report dropping affordable housing in developments
A housing report recommending councils drop the affordable housing requirement on all new building developments for rent has been welcomed by Tory housing minister Grant Shapps.
Top tweets
Barack Obama @BarackObama
“When we got married, we got poorer together. We paid more for our student loans than we paid on our mortgage each month.”
Henry George @Geolibertarian
House prices aren’t unaffordable they’re unaffordable to people who can’t get a mortgage. Not the same thing.
Louise Stewart @BBCLouise
Boris Johnson on Prince Harry: “The real scandal would be if you went all the way to Las Vegas and you didn’t misbehave in some trivial way”
Just Bill @WilliamAder
Guess I shouldn’t have yelled, “Hey, guys! I’ve got an idea!” at Prince Harry’s party the other night.
