6
mortgage brokers banned |
| The FSA has fined one mortgage
broker £130,000 and banned a further six
in relation to mis-sold mortgage fraud. All were
found to lack integrity and honesty, they had
committed the mortgage fraud by providing misleading
and false
|
| Banks
treating bankrupts unfairly |
| Banks have been urged to allow
bankrupts access to basic accounts and to treat
them fairly. Citizens Advice commented that undischarged
bankrupts were being denied a basic account (i.e.
with no credit facility) by the majority of UK
banks |
Barclays
forced to pay dying man over mis-selling |
| Barclays Financial Planning have been
forced to refund more than £157,000 to a terminally
ill man who was mis-sold a 5 years structured product.
The case was succesfully brought by Mackenzie Financial
Planning based in Bury. |
| Broker
ordered to refund brokerage fees |
A credit broker based in Manchester,
Mohammed Yusuf, has had requirements imposed on
him by the Office of Fair Trading. Mr Yusuf also
offered his services as a debt management provider. |
| Insolvencies
highest in North-East |
| The North-South divide is highlighted
again in relation to personal insolvencies throughout
England in 2009. The North East was identified
as having the highest number of personal insolvencies
(IVA and bankruptcy).
|
| Over
£23 million a day written off by lenders |
| UK building societies and banks within
the last 12 months ending Q1 2010 confirmed £9.6bn
of loans written off to individuals. Within the
first three months of 2010 £2.13billion was
written off (credit card debt accounted for £1.25bn
of this |
| Redstone
Mortgages fined £630,000 |
| Redstone Mortgages Limited (Redstone)
has been fined £630,000 by the Financial
Services Authority (FSA) for it's poor treatment
of some of it's customers facing financial hardship
and mortgage arrears. |
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