Page 2 - Andrew Gething News Today

The Bank of England (BoE) has raised interest rates by 25 basis points (bps) to 5.25%, bringing rates to their highest since February 2008.

The Financial Conduct Authority’s (FCA)  Consumer Duty regulation comes into force today. As FCA outlined earlier this year, It introduces a more outcomes-focused approach to consumer protection and sets higher expectations for the standard of care that firms give customers. Consumer Duty introduces new rules and

There could still be a ‘choppy period’ ahead for mortgage holders despite inflation in Britain falling to a 16-month low, industry experts warn. Inflation has dropped to 7.9% in the year to June, according to the Office for National Statistics (ONS). It also fell from 8.7% in May - a better result than many

The latest interest rate hike from the Bank of England (BoE), which today rose to 5%, is ringing alarm bells among advisers and providers as the potential for more people to fall into the category of ‘vulnerable client’ rises.

There has been mixed reaction from the sector to the latest interest rate rise announced today by the Bank of England. MT Finance head of buy-to-let lending Marylen Edwards believes that while a reduction in the base rate would have been welcome news, another increase was necessary at this moment in time to combat

UK inflation as measured by the consumer prices index fell slightly to 10.1% in March, the Office for National Statistics (ONS) has reported. And while the return to a downward trajectory has been welcomed following an unexpected uptick in February, it’s still a long way off the 2% target. The March drop from 10.4%

As inflation and the base rate continue to increase, so does the issue of housing affordability, which is rapidly climbing the agenda of industry challenges. After a significant period of low rates and low inflation, the sudden spike came as a shock, with financial markets and individuals struggling to find balance

Advisers could be faced with up to 400 different variations in characteristic and circumstance that lead to customer vulnerability under Consumer Duty, MorganAsh warns.

In late January the Financial Conduct Authority issued a multi-firm review, with one of its conclusions being that some firms might struggle to enact the new Consumer Duty rules. There are just six months left before the deadline. The review is lengthy and, dictated by the large number of sectors it has to cover,

The Financial Conduct Authority is beginning to “flex its muscles” with notices issued to firms needing more data on vulnerability, Consumer Duty expert Andrew Gething has warned.