Get out of jail free card for mortgage prisoners?

Get out of jail free card for mortgage prisoners?

Thousands of UK mortgage prisoners may be handed a get out of jail free card as the country’s financial regulator unveils plans for a relaxation of switching rules which will allow them to get out of expensive deals. In a letter to government the Financial Conduct Authority (FCA) said it intends to take ‘immediate action’ …

Brexit uncertainty putting off first-time buyers

Brexit uncertainty putting off first-time buyers

Uncertainty about the effect of Brexit on the housing market is putting off first-time buyers claims a new report. Financial services provider One Family says would-be home owners are postponing their purchase in the belief that house prices will drop following the UK’s departure from the European Union at the end of March. Price growth …

Pension mis-selling payouts doubled says regulator

Pension mis-selling payouts doubled says regulator

Concern is growing about an unfolding mis-selling scandal in pensions advice as compensation for successful claims has doubled between 2016 and 2018. Pensions expert Josephine Cumbo said payouts have been made to savers who were wrongly advised to give up ‘gold-plated’ company schemes. Problems She added that 19 firms have quit the pension transfer advice …