Majority of brokers unconcerned by interest-only mis-selling claims
You have to be concerned – the CMC will send the tick box complaints just as they did with PPI – you still then have to deal with the fabricated complaint – that’s time and money and that has to go onto your FCA return and your PI proposal.
With x number of complaints outstanding this will effect your PI premium – of course you need to be concerned. A closed complaint in your favour still blots your record.
EWS
Is Stamp Duty strangling the housing market?
Instead of pledging taxpayers money to Home Buy, the reform of SDLT from a slab tax could be more effective.
Here is an example:
Purchase price £300,000
Valuation £500
Solicitors £1,500
SDLT £9,000
82% of the cost of buying a home in this range is tax.
Arron
Lenders’ fear of failure limits new products
Far too many lenders are keen to play it safe at the minute, especially high st banks. Far too much posturing over low LTV products that clients cannot get anyway.
Mark
How to avoid social media bloopers – Marketwatch
Social media if handled intelligently can be really proven for strategy for internet marketing.
Jean
Self-employed broker slams ‘brainless’ visa income rules
I agree with the other contributors to date. If Douglas earned the threshold level of income of £24,800, this would generate tax and NI of £5,117.40 but his family would receive £1,920.31 in working family tax credits and £1,752.40 in child benefit.
Total £3,672,71 pa giving a net annual contribution of £1,444.69, which would not come close to the cost of free schooling and NHS treatment. In the broker market, £24,800 would equate to 3-4 mortgages per month so say 2 days work per week.
However, he earns LESS than this, which means his family is likely to be a net draw on the state.
Disgruntled of Kent
Self-employed broker slams ‘brainless’ visa income rules
This is Douglas Shillinglaw, the mortgage broker relating to the article. When the visa application was submitted, I had to use figures for tax year ending April 2012 which was my first full year of trading from starting off with no clients at all.
My income for tax year ending 2013 will be considerably more which is why I believe I can support my wife and 2 children without state benefits & I can demonstrate this via my last 6 months’ bank statements, if required (I am not allowed to claim benefits for my wife & sons if they come to the UK anyway).
I am very disappointed that fellow professionals think that I would self-certify my income on a tax return & would try to do this with my clients plus that I only work 2 days per week.
You are entitled to your comments but until you know the full facts about my situation, I believe they are unfair & unreasonable especially when its very distressing being separated from my wife, her 6 year old son and our 5 month old baby & not knowing when I will see them again.
Douglas Shillinglaw
Thank you for your comments this week
