AIFA warning over RDR <> The Financial Services Authority has been accused of losing sight of the original objectives of the Retail Distribution Review (RDR) ahead of today's consultation submission deadline. .. <> Complaints about mortgage lenders rise 40% in six months <> Complaints about the way banks, building societies and specialist lenders treat struggling mortgage customers have soared by 40 per cent over the past six months, figures from the chief financial watchdog showed yesterday. ..   more »

Swinton hit by FSA PPI rebuke <> Swinton has been fined £770,000 by the Financial Services Authority (FSA) for serious failings in its advised sales of single premium payment protection insurance (PPI). .. <> Property prices jump again <> The gradual recovery in the housing market has continued after the Land Registry revealed house prices recorded a monthly rise of 0.9% in September, up from 0.5% in August. .. <> Fixed rate popularity dips <> The popularity of fixed rate mortgages continues to decline, with variable rate mortgages now taking almost two thirds of the market, according to John Charcol. .. <> Fitch blasts FSA's plans to reform home loans <> The financial services watchdog has been dealt an embarrassing blow with Fitch Ratings warning that radical plans to overhaul mortgage regulation for the sake of consumers could backfire...   more »

City tells Osborne to wise up and dismisses plan to cap bank bonuses <> City and business leaders yesterday attacked George Osborne's "simplistic" proposals to cap bankers' bonuses, calling on the shadow chancellor to adopt a "wiser" approach to a complex issue. ..   more »

UK plunges into longest recession on record <> The UK is currently in the midst of its longest ever recession, after figures showed that the economy contracted once again between July and September.. <> Parents advise property purchases <> With figures showing that housing is at its most affordable level for six year, the vast majority of parents believe it is the right time for their children to secure a mortgage... <> Banks lay plans to end free current accounts <> A shake-up of the current account market is in prospect as high-street banks, under pressure over their charges, consider revenue-raising schemes that could eventually spell the end of free banking...   more »

Call for Ombudsman review <> The Association of Independent Financial Advisers (AIFA) has called for a comprehensive review of the Financial Ombudsman Service (FOS). .. <> Millions of elderly pay too much tax <> Millions of pensioners are paying too much tax because of the complexity of the tax and benefits rules, an official audit reports today...   more »

Size of bank bailout 'breathtaking' <> The Governor of the Bank of England has described the extent of the bailout of the UK's financial institutions as breathtaking... <> Over 50s positive on stocks <> Having seen their ISA limits increased recently, more than half of investors over 50 with more than £10,000 in savings have a positive look on the stock market. . <> Pension plans confuse millions near retirement: Proposals to raise the state pension age are causing widespread confusion among millions of people who are approaching retirement...   more »

Banish Casino Bankers says King <> The Governor of the Bank of England last night put himself on a collision course with the Government over its handling of the economy. . <> New bonus bonanza at RBS <> Royal Bank of Scotland has hired dozens of City high-flyers on bumper no-strings-attached bonus deals, in defiance of its promises to rein in profligate pay..   more »

Regulator shakes up mortgage market <> Mortgage borrowers will have to prove their income and provide a detailed breakdown of their spending habits to qualify for loans under sweeping new rules laid out yesterday by the Financial Services Authority... <> Borrowers will face stringent tests to determine whether they can afford mortgages, under new regulations set by the Financial Services Authority (FSA)...   more »

The balance of power in the housing market continued to swing towards the seller in October, according to the latest research from Rightmove. .. <> Rent rises accelerate <> Landlords pushed up rents for the fourth consecutive month in September, raising them 1.2% after August's 1.4% increase, according to LSL Property Services..   more »

End seems nigh for self-cert mortgages <> Self-certification mortgages look set to be banned when the Financial Services Authority's mortgage market review is revealed next week... Should a product, that encouraged clients to declare an income that they couldn't prove, ever have existed in the first place. This adviser thinks not. <> <> Recession almost over <> The UK is close to leaving the recession, according to the latest survey of businesses by the British Chambers of Commerce (BCC)... <> House prices climb higher <> House prices have reached their highest level since the onset of the credit crunch and could climb higher still, according to the Royal Institution of Chartered Surveyors (RICS). ..   more »

Dip in house purchase loans <> Lending for house purchase suffered a slight dip in August but is still on firmer ground than previously, according to the latest data from the Council of Mortgage Lenders (CML). .. <> Base rate set to stay low The Bank of England base rate has been predicted to remain at its historic low of 0.5% for at least all of next year and still be below 2% in 2014, according to the latest forecast from the Centre for Economics and Business Research   more »

High Court decision on debt loophole dashes write-off hopes <> About 100,000 people trying to have their credit card and loan debts written off by exploiting a legal loophole will have to pay the full amounts they owe after a landmark court ruling this week...   more »

IFAs raise RDR concerns <> There is widespread concern amongst independent financial advisers (IFAs) that the Retail Distribution Review (RDR) will restrict, rather the widen consumer access to financial guidance and products..   more »

Rates tumbling in mortgage war <> A mortgage war that threatens to crush small building societies is being waged between banks bailed out by the state and those benefiting from overseas backing...   more »

ISA limit increase for over 50s from 6 October 2009
Investors aged over 50 or who turn 50 on or ...   more »

Call made for buy-to-let regulation<>Government foregoes tax<>Shareholders slam Friends takeover<>Price of state aid for RBS and Lloyds could be to shed 10% of customers   more »

House prices at 2008 level<> The upward momentum in the housing market that has been in evidence in recent months has seen house prices revert back to the level they were a year ago... <> Tracker borrowers face steep rises<> More than 100,000 borrowers with tracker mortgages, who have been enjoying near-zero interest costs since the base rate hit 0.5% in the spring, are facing increases of hundreds of pounds in their monthly repayments...   more »

Claims management firm firm Cartel has helped to get a landmark ruling when a judge ruled to let a woman off GBP 8,000 of debts on her MBNA credit card. The decision by a county court Judge could mean thousands of borrowers being able to renege on their debts.   more »