FSA | Independent Financial Advice Service, Pensions and Investment Portfolio Advisers

Government to create new financial planning education body

Wednesday, December 16th, 2009

The government is to emphasise the need for financial education with the creation of a new body with a specific brief to educate consumers about financial planning.

The creation of the Consumer Financial Education Body (CFEB) was announced in the Financial Services Bill now before parliament and will be staffed by 160 staff drawn mainly from the Financial Capability Division of the Financial Services Authority (FSA).

Tags: CFEB, Consumer Financial Planning Body, Financial Planning, Financial Planning Advice, FSA, Personal Finance Education
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Mortgage seekers need â€˜rationalâ€™ advice â€“ FSA

Wednesday, December 2nd, 2009

Good mortgage advice will make the mortgage market a safer place to be for consumers, even if that means encouraging homebuyers to be a little more â€˜rationalâ€™ with regard to what they can afford, according to the Financial Services Authority (FSA).

Tags: Financial Services Authority, FSA, Mortgage, Mortgage Advice, Mortgage Affordability, Mortgages, Self-Cert Mortgages
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Good news for buy to let mortgage holders as FSA extends powers

Thursday, November 26th, 2009

Regulation of the buy to let mortgages sector is to be added to the remit of the Financial Services Authority, in a move announced by the Treasury this week.

The Financial Services Authority is also to regulate third parties who buy mortgages from lenders, to provide additional security to mortgage borrowers.

Tags: Buy to let Mortgages, Financial Services Authority, FSA, Home Mortgage, Mortgage Lender, Mortgage Loan
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Self-employed will still get a mortgage, says FSA

Thursday, November 26th, 2009

Self-employed workers have been assured that new proposals by the Financial Services Authority will not block them from obtaining a mortgage.

â€œThe FSAâ€™s proposals on self-cert mortgages will not block access to the market for the self-employed,â€ said Lesley Titcomb of the FSA this week.

Tags: Financial Services Authority, FSA, Mortgage, Mortgage Lender, Repayment Mortgage, Self-Cert Mortgages, Self-Certified Mortgage
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Mortgage lenders under fire from FSA

Wednesday, November 4th, 2009

The Financial Services Authority (FSA) has declared war on unacceptable practices in mortgage lending, with a Â£2.8m fine for GMAC-RFC over what it termed â€˜unfair treatment of customersâ€™.
Â GMACâ€™s failings included â€œexcessive and unfairâ€ arrears charges for missed mortgage payments onÂ loans, repayment plans that did not always consider a customerâ€™s circumstances, and moving to repossess when [...]

Tags: Financial Services Authority, FSA, GMAC, Loans, Mortgage Advice, Mortgage Lender, Mortgages
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Mortgage proposals will rein in lenders, end self-certified mortgages

Tuesday, October 27th, 2009

New proposals by the Financial Services AuthorityÂ (FSA) to regulate mortgage lending will requireÂ lendersÂ to refuse mortgageÂ applicationsÂ that are beyond what theÂ homebuyer can reasonably afford.
However, the current FSA proposals stop short of imposingÂ limits on the loan-to-value ratios of mortgages, which relate to the size of the mortgageÂ as a percentage of the value of the property, and would require [...]

Tags: Financial Services Authority, FSA, Loans, Mortgage Affordability, Mortgage Lender, Mortgages, Self-Cert Mortgages, Self-Certified Mortgage
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