fbpx
Oakwood Solicitors

News and Knowledge

Our latest news, industry insights and knowledge

Home » News & Knowledge » Abbey National Interest Rate Error

Filter

More

Abbey National Interest Rate Error

Abbey National was one of the largest residential mortgage lenders in the UK before it was bought out by the Spanish banking giant, Santander, in January 2010.   After Santander’s purchase of Abbey National, it slowly became clear due to a technical error in the drafting of Abbey’s 2004 Standard Mortgage Conditions, that many thousands…

Find out more

Financial Services Compensation Scheme (FSCS) Announces Multi-Million Budget Increase

In January 2020 it published its Plan and Budget for 2020/21. This outlined initial forecasts for the levy financial services firms/Advisors will pay next year, as well as a supplementary levy due to be raised on firms before the end of 2019/20.   Advisers face an increase in their Financial Services Compensation Scheme (FSCS) bills as…

Find out more

15 Regulated Advisory Firms Declared in Default

The Financial Services Compensation Scheme (FSCS) has declared 15 new advisory firms in default during February 2020.   A company/firm is declared in default when it is no longer able to financially bear to pay compensations for claims against it.   The firms are: Hector McLean Financial Consultants J Associates Knight Finance (European) Limited Intuitive…

Find out more

Rating Scores For IFAs

A common sight outside eateries and often publicised on social media (if they’re terrible), the Food Standards Agency (FSA) holds a lot of sway with its rankings of food establishments based on quality and cleanliness. With this system in mind, the Parliamentary Review published an article that suggested such a ranking system exist for Independent…

Find out more

How to Spot a Pension Scam

According to the Financial Conduct Authority (FCA) and the Pensions Regulator (TPR), the Express has reported that two-thirds of those asked would trust anyone offering them pensions advice, even if they hadn’t sought it out. Interestingly, the findings concluded that more highly educated individuals were more likely to succumb to a scam, with a bigger…

Find out more

SIPP Claims Soar – Advisers’ FSCS bill to reach £213m

Levies across advice firms for the next financial year have been forecast at £213m by the Financial Services Compensation Scheme (FSCS). The rise in Self Investment Personal Pensions (SIPPs) is to blame, with claims against SIPP providers expected to increase by more than double over the 2020-2021 period. This rise is due to nine providers…

Find out more

£86m FCA Trial To Go Ahead Despite Suspension Request

As reported in the Financial Adviser, a request to delay the trial of two unregulated introducers and their management who transferred £86m-worth of pension assets, has been rejected. The plea was made as the defendant made the claim that he was suffering from ill-health. Initially, the case was brought to light by the Financial Conduct…

Find out more

SVS Securities Goes into Administration – Could You Claim?

In August 2019 The Financial Conduct Authority (‘The FCA’) put the financial advisor and investment provider SVS Securities Ltd into default and the firm has consequently entered administration.   The decision by the FCA arises as a consequence of the firm’s general lack of due diligence, their failure to advise clients adequately on how risky…

Find out more

17 Regulated Advisory Firms Declared In Default

The Financial Services Compensation Scheme (FSCS) has declared 17 new firms in “default” for the period between August 2019 and October 2019. The firms are: • Valiant Financial Consultants, Kent • N-Hanced, Tyne and Wear • AETC Associates, Bradford • Bellfield Financial Services, Glasgow • St Martin’s Partners, Essex • Strathearn Insurance Services, London • Property Finance…

Find out more

Wave of Annuity Mis-Selling Claims – FCA Warns Pension Providers to Brace Themselves

An annuity is a financial product that guarantees the purchaser an income stream during their retirement in return for a lump-sum premium paid upfront at retirement – usually from the proceeds of a pension. The importance of getting the best deal possible on an annuity cannot be overstated. Indeed, in many cases the income generated…

Find out more

Get in touch in a way that suits you:

Call us on 0113 200 9787 or

Request a call back

Use our Enquiry form to get you on the right track:

Enquiry form

Reach us by email:

Email

Send us your email and we will keep you updated with our latest news, views & events

Loading

Cookies

This website uses cookies. You can read more information about why we do this, and what they are used for here.

Accept Decline