A firm of independent financial advisers, the Thinc Group, has been fined £900,000 for poor record-keeping when selling sub-prime mortgages. The Financial Services Authority (FSA) said the company could not prove it had given good advice to its customers. The regulator said this was a serious matter because customers might have taken on loans they could not afford. (more…) Ministers’ housing fears revealedUK house prices could fall “at best” by 5-10% this year, according to secret Cabinet briefing notes accidentally revealed by a housing minister.
The briefing note was photographed in Downing Street
The notes - prepared by officials for Caroline Flint - also said: “We can’t know how bad it will get.” Ms Flint, who was photographed with the notes as she entered No 10 for a Cabinet meeting, shrugged the incident off saying: “These things happen”. (more…) | |
Enlarge Image