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BoE defies expectations to hold bank rate at 0.5%

BoE defies expectations to hold bank rate at 0.5%

Despite economists suggesting an 80% probability of a bank rate cut, the Bank of England’s Monetary Policy Committee has voted to keep the base rate at its current historic low of 0.5%.

14 Jul 2016

FCA cancels 'reckless' payday lender’s interim permission

FCA cancels 'reckless' payday lender’s interim permission

The FCA has cancelled Wage Payment and Payday Loans' interim permission and banned its sole director from performing any role in regulated financial services.

14 Jul 2016

Tesco Bank removes booking fees across range

Tesco Bank removes booking fees across range

Tesco Bank is simplifying the fee structure on its mortgage range by removing all booking fees.

14 Jul 2016

FCA to review retirement product complexity and non-advised sales

FCA to review retirement product complexity and non-advised sales

The FCA has today published the Terms of Reference for its Retirement Outcomes Review which will assess the impact of the pension reforms on competition in the market.

14 Jul 2016

West Brom cuts five-year fixes by up to 0.55%

West Brom cuts five-year fixes by up to 0.55%

West Bromwich Building Society is reducing rates on its five year fixed rate mortgages by up to 0.55%.

14 Jul 2016

Precise to pay 0.25% proc fee for retention deals

Precise to pay 0.25% proc fee for retention deals

Precise Mortgages has launched a retention programme for customers coming to the end of their initial fixed or discount deals which will pay intermediaries a 0.25% procuration fee.

14 Jul 2016

House prices defy Brexit fears with 0.6% rise

House prices defy Brexit fears with 0.6% rise

After three consecutive months of dipping house prices, including a 0.9% drop in May, average prices in England and Wales rose by 0.6% in June, according to the latest LSL house price index.

14 Jul 2016

Brexit sparks housing supply drop in two thirds of towns

Brexit sparks housing supply drop in two thirds of towns

More than two-thirds (68%) of UK towns and cities saw new property listings fall in June, with supply down 13% in London alone, according to HouseSimple.

13 Jul 2016

70% of retirement specialists unthreatened by robo-advice

70% of retirement specialists unthreatened by robo-advice

The majority of retirement advisers do not see the launch of online robo-advice alternatives as a threat to face-to-face advice.

13 Jul 2016

BoE: mortgage demand increased significantly ahead of Referendum

BoE: mortgage demand increased significantly ahead of Referendum

Demand for secured lending for house purchase "increased significantly" in Q2, according to the Bank of England's Credit Conditions Survey.

13 Jul 2016

 

One in ten anticipate end of state pension

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One in ten anticipate end of state pension

Just a third (32%) of the UK population believe that the state pension will be as generous when they retire. A further third (33%) believe it will still exist, but at a less generous level, while a tenth (10%) of those surveyed thought that there would be no state pension at all.

13 Jul 2016

FCA fines Towergate £2.6m

FCA fines Towergate £2.6m

The FCA has fined Towergate Underwriting Group Limited £2,632,000 and fined its former director for failings in relation to its protection of client and insurer money.

13 Jul 2016

CML: remortgage activity sees 15% monthly drop

CML: remortgage activity sees 15% monthly drop

Remortgage activity totalled £5.2bn in May - a 15% drop on the previous month, according to the latest CML stats.

13 Jul 2016

FSE London opens for registration

FSE London opens for registration

Front Events have announced that registration for FSE London is now open.

13 Jul 2016

TMA launches new protection panel

TMA launches new protection panel

TMA Mortgage Club has announced the launch of its new flat rate protection panel, TMA Plateau.

13 Jul 2016

Housing supply deficit hits 1.2m

Housing supply deficit hits 1.2m

England has missed its house building targets by 1,199,180 since 2004, according to figures from Yorkshire Building Society.

13 Jul 2016

Pre-retirees face seven-year deferral, but 40% shun advice

Pre-retirees face seven-year deferral, but 40% shun advice

Pre-retirees in Britain are now expecting to save for seven years longer than those already retired, according to HSBC research.

13 Jul 2016

Financial Reporter launches new Factsheet with LendInvest

Financial Reporter launches new Factsheet with LendInvest

Financial Reporter has launched its next Product Factsheet in the series, available free for Financial Reporter readers.

12 Jul 2016

Insurers and brokers at "severe risk" of violating new act

Insurers and brokers at "severe risk" of violating new act

The insurance industry and brokers are at "severe risk of falling foul" of The Insurance Act 2015 after August 12th unless they make sure they’re fully engaging with customers, according to GMC Software.

12 Jul 2016

Openwork advisers surpass 3,000

Openwork advisers surpass 3,000

Openwork has announced that it now has over 3,000 advisers within its core network, its protection business Owl and its nationwide IFA firm 2plan wealth management.

12 Jul 2016

Tesco Bank launches 95% LTV intermediary range

Tesco Bank launches 95% LTV intermediary range

Tesco Bank has announced the launch of a new mortgage range which will now include 95% LTV products.

12 Jul 2016

Enterprise: Brexit will provide second charge opportunities

Enterprise: Brexit will provide second charge opportunities

The decision to leave the EU could provide "plenty of opportunities" for second charge finance lenders in the coming months, according to Enterprise Finance.

12 Jul 2016

MCD caused 41% secured lending drop

MCD caused 41% secured lending drop

The implementation of MCD caused a 41% monthly fall in secured lending in April, according to the new Enterprise Finance Second Charge Report.

12 Jul 2016

Santander and L&G announce lifetime mortgage partnership

Santander and L&G announce lifetime mortgage partnership

Legal & General has announced a five-year agreement to offer its lifetime mortgages to Santander customers.

12 Jul 2016

Advisers say SIPP providers won't meet new FCA requirements

Advisers say SIPP providers won't meet new FCA requirements

Over half (54%) of retirement advisers are concerned that a SIPP provider they use won’t be able to meet September’s FCA capital adequacy requirements, according to Momentum Pensions.

12 Jul 2016

Halifax: regional house price gap at record high

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Halifax: regional house price gap at record high

UK house price inflation remained elevated in Q2, but regional differences rose to record levels, according to the latest Halifax house price index.

12 Jul 2016

Osborne and FSA "hampered" HSBC money-laundering case

Osborne and FSA "hampered" HSBC money-laundering case

A US report claims that Chancellor George Osborne and the Financial Services Authority "intervened" in an official investigation into money laundering allegations against HSBC.

12 Jul 2016

June housing market "surprisingly stable"

June housing market "surprisingly stable"

June property valuations have grown on both an annual basis and since May, according to Connells Survey and Valuation, who described the figures as "surprisingly stable".

12 Jul 2016

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