This week’s top five stories:
1) Bankhall issues warning to DA firms over FCA compliance
Bankhall has urged directly authorised (DA) firms to prepare their compliance staff for increased scrutiny from the FCA.
2) Help to Buy 2: The Halifax update
The Lloyds interview Mike Jones, Lloyds’ director of intermediaries and MD of Scottish Widows Bank caught up with Mortgage Solutions editor Victoria Hartley on the Help to Buy 2 launch seven days after the first product went live.
3) Co-op mortgage customers to get pay-out after bank miscalculation
Mortgage customers with the Co-operative Bank are set to receive compensation after the bank uncovered an error which saw customers unknowingly overpaying their mortgage.
4) FSCS declares further 18 advisory firms in default
The Financial Services Compensation Scheme (FSCS) has declared a further 18 advisory firms in default.
5) Advisers should step up to level 4 qualifications – Bob Hunt
At the recent Financial Services Expo Q&A representatives from the FCA were quizzed about their intentions for the mortgage advisory profession with regard to qualifications.
Here are some stories you may have missed:
EU mortgage directive KFI change ‘could cost millions’
Lenders fear replacing the Key Facts Illustration with different documents to meet EU mortgage directive requirements could cost millions of pounds, insiders have suggested.
How to take advantage of the loyalty mortgage boom – Barclays
The rise of the loyalty mortgage continues unabated. Barclays intermediary managing director David Finlay looks at how brokers can jump on the bandwagon.
Interest rates set to rise after next election – HSBC economist
The Bank of England is unlikely to raise the Bank Base Rate until after a general election, an economist has suggested.
FCA must move fast after EU mortgage directive vote – BSA
The Financial Conduct Authority must act quickly once the EU mortgage directive has passed if firms are to have enough time to implement it, a lender policy specialist has warned.
Equity release checklist: what you need to know
The Equity Release Council has provided advisers with a checklist intended to establish best practice across the industry.