Over 50s with mortgages in repayment crisis – Saga

Sometimes for people 70 years plus, servicing a mortgage debt at low rates can be advantageous with regard to estate planning.

Jill Turner

FCA cautions lenders on overstrict affordability criteria

This is why you should leave the lenders to ‘lend’ and the advisers to ‘advise’. I have found that in most cases where I have appealed to the lender, where my clients criteria does not fit the defined model, the underwriter has seen the common sense in my argument and agreed the case, good examples of this are NatWest and Coventry hopeless examples are Santander!

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Sox

If the FCA offered a bit of clarity when they amend or introduce new regulation, then this sort of thing would not happen. Everything they do is ambiguous and it is no wonder that rules are being interpreted differently. Once again it is the consumer who suffers.

Pointed

The lack of clarity is deliberate. They actively do not want certainty as it would either restrict their ability for creative interpretation or drop them right in it. The whole thing is corrupted by the perverse incentives on unaccountable functionaries that benefit them the worse things are.

Mr Very Angry

Disgraced Swinton CEO ‘sincerely’ regrets harm to customers

Bet he also regrets £400k fine and a shredded career. What happens when customers are treated with contempt.

David Carrington

Bridging lender issues industry warning not to line pockets with default fees

Good to know that they are merely re-iterating the FCA’s existing requirements that fees are justifiable.

Hypothecation

Thank you for your comments this week