One unexpected outcome of the long awaited Mortgage Market Review is what looks like a squeeze on mortgage brokers. The heart of the paper is enhanced affordability checks and the Review says the FSA is not proposing to prevent income and expenses checks being done by intermediaries, “but the lender will be responsible for ensuring [...]
Archive for the ‘Huntswood Consulting’ Category
The Mortgage Market Review
Posted in Huntswood, Huntswood Consulting, tagged Fast Tracked Mortgages, FSA, Huntswood, John Howard, Mortgage Lenders, Mortgage Market Review, Self Certification Mortgages on December 20, 2011 | 1 Comment »
An effective way to reduce complaints
Posted in Huntswood, Huntswood Consulting, Huntswood CSD, tagged complaint handling, Customer Experience, Freedom of Information Act, Learning and Development, training, Training Program, Triage approach on November 17, 2011 | Leave a Comment »
A lack of complaint handling capability will always result in poor service, but imagine the impact for a company facing a huge backlog of complaints. Huntswood was approached by a company which handled information requests under the Freedom of Information Act (FOI), but due to a public awareness campaign, they were overwhelmed by a rising [...]
Publishing FOS Decisions – Clarification or Punishment?
Posted in Huntswood, Huntswood Consulting, tagged Financial Ombudsman Service, FOS, Huntswood, John Howard, regulatory changes on November 14, 2011 | Leave a Comment »
The Financial Ombudsman Service has just released its discussion paper on the publication of its decisions. This a major concern for the industry at the moment and divides opinion. Certainly, firms want greater clarity over FOS decision making, but how will publishing decisions achieve this? It will require an easily searchable database which firms and [...]
The Retail Distribution Review
Posted in Huntswood, Huntswood Consulting, tagged business performance, financial advisors, Huntswood, John Howard, Professional services business, RDR, Retail Distribution Review on November 9, 2011 | Leave a Comment »
The Retail Distribution Review’s (RDR) new definition of advice will have certainly unnerved financial advisors, but is the regulator’s definition sufficient for today’s market and does it reflect what customers think is advice? Under the RDR there will only be two types of advisor for investment products: there will be fully independent advisors that must [...]
The UK Consulting industry – buying trends update
Posted in Huntswood, Huntswood Consulting, Huntswood Mangement Consultancy, Huntswood Recruitment, tagged Huntswood, Huntswood Recruitment, management consultancy, recruitment on October 25, 2011 | 1 Comment »
Recently we took part in the Source for Consulting market update presented by Fiona Czerniawska, Director and Co-Founder of Source for Consulting, and Edward Haigh, Director. The results were from their quarterly buying trends survey. The results were very varied depending on the type of consulting work done and the type of company. As has [...]
Unfair charges – FSA’s clamp down.
Posted in Huntswood, Huntswood Consulting, tagged arreas management fee, Customer service, financial services, FSA, Huntswood, John Howard, mortgage arrears, mortgage companies, Swift 1st, Unfair charges on October 11, 2011 | Leave a Comment »
The FSA’s clamp down on mortgage companies continues with Swift 1st Ltd being fined £630,000 and ordered to pay an estimated £2.35 million in compensation to customers. The company’s main failing was to make excessive charges when customers fell into arrears. Competition between firms to win business with headline grabbing rates result in squeezed margins. [...]
What would you do if you only received one complaint a year?
Posted in Huntswood, Huntswood Consulting, tagged banks, complaint, complaint handling, customer, customer satisfaction, Customer service, dealing with customer complaints, excellent customer service. regulatory services, handling complaints, Huntswood on September 19, 2011 | 1 Comment »
The real question we are posing is: If you only had one complaint a year, with all the tools currently at your disposal, how would you handle it and what would you learn? This is a theoretical question, but one worth asking. By the way, if your first response was ‘it’s only one complaint – [...]
Lenders criticised for going easy on repossessions
Posted in Huntswood, Huntswood Consulting, tagged banks, Forbearance, FSA, Huntswood, IFRS 7, John Howard, mortgage, regulator, repossessions on August 25, 2011 | Leave a Comment »
Relatively few people lost their homes after the crash in 2008, because of low interest rates and lenders answering a call from the government and the regulator to go easy on defaulters. But have some lenders been too lenient? The FSA thinks so, which has put new risks on banks balance sheets and placed some [...]
CMCs – Starve the Beast
Posted in Huntswood Consulting, tagged CMCs, consulting, executive consulting, Huntswood, management consultancy, Paul Scott, Risk and Compliance Consultant on August 9, 2011 | 1 Comment »
by Paul Scott, Director of Consulting, Huntswood As I explained in the last blog I believe that claims management companies (CMCs) are here to stay. Many consumers seem to like using them, even if it means getting less compensation; and there are many potential causes of complaints out there. If you want to reduce the [...]
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