This week’s top five stories:
1) Sub-prime lender slams ‘fast asleep’ mortgage brokers
The managing director of the first sub-prime lender to launch since the credit crunch has described UK mortgage brokers as ‘fast asleep’ and too reliant on high street lenders.
2) Carney: Interest rates could rise as soon as 2014
The quarterly inflation report out today suggested the Bank of England could raise rates as early as the end of 2014 if unemployment continues to tumble and the economy improve.
3) ‘Daunting and exciting’: Duncan Crocker to exit L&G
Duncan Crocker, managing director of the Legal & General Network has made the decision to step back from his role with the insurer, sending a memo to key trading partners a few weeks ago outlining his plans to step out of executive life.
4) IFA advised couple on scheme that left them with a £500k debt
A couple are facing poverty in retirement and risk losing their home after their IFA advised them to invest in a high risk scheme that has left them £500,000 in debt.
5) Tesco Bank has reduced rates on a number of mortgage products across its range
Tesco Bank has reduced rates on a number of mortgage products across its range.
Here are some stories you may have missed:
Is Help to Buy proving the doom-mongers wrong?
It seems like every pundit, economist and expert had their claws out ready to savage the Help to Buy scheme, but figures released today appear to be telling a different story.
Clone scams threaten financial advice sector – deVere
The financial advice firm deVere UK has contacted the Financial Conduct Authority a second time about an elaborate cloning scam it warns could undermine the industry’s reputation.
Lender markets short-term high-interest loans as ‘credit building’
Brokers have questioned a lender’s claim that borrowers can build a credit history by taking out short-term high-interest loans.
Help to Buy is not the only option – Peter Izard
The second phase of Help to Buy (HTB) is being hailed as the saviour of hard-pressed first-time buyers and other borrowers struggling to raise a deposit, not to mention the wider mortgage market, writes Peter Izard.
Lenders ‘struggling’ to recruit enough qualified advisers – Iress
Major mortgage lenders are struggling to find enough qualified advisers to meet their needs ahead of the implementation of the Mortgage Market Review next April.
iPad winner announced
David Evans of Whichers has been announced as the winner of an iPad Mini in The Source’s questionnaire prize draw from the inaugural Financial Services Expo in October.
Whichers are Independent Financial Advisers who pride themselves on a very personal service, retaining their family values and drawing Clients from recommendations. Congratulations to David.
