After advisers and fund managers, it's now the mortgage market's turn to face the scrutiny of the regulator.
The FCA's interim report voices concerns about mortgage prisoners – generally but not exclusively those on pre-financial crisis interest only loans - while it suggests a comparison tool for mortgage brokers to help borrowers shop around.
Mortgage Strategy picks up on a few issues missed elsewhere. One quarter of mortgage referrals are on an estate agent’s recommendation and proc fees do not sway a broker’s choice of lender.
The chief executive of Capital and Trust Patrick Isaacs warns IFAs that too much EIS and VCT business on their books could undermine their eventual sale price.
HMRC suggests the public have been overtaxed £280 million by HMRC since the pension freedoms came into force.
St James’s Place boss David Bellamy suggests its charges are not out of kilter with the rest of the market. He says that the exit charge is an alternative way of funding things rather than an excessive charge. Debate and discuss!
Replatforming problems at Aviva sees platform tech provider FNZ’s chief operating officer Douglas Boyce depart the firm.
Fidelity UK special sits manager Alex Wright suggests the UK market has hit its peak, joining many other market commmetators.
Aegon suggests that the average saver needs around £300,000 to retire comfortably.
Rory Percival launches a guide to cashflow management best practice.
This strikes me as a big move on pricing – Whitechurch slashes its managed portfolio service fees to as low as 0.1 per cent.
