An internal review of advised mortgage cases at Royal Bank of Scotland showed just two out of 91 customers received MCOB-compliant advice.

A Warwickshire mortgage adviser, working under the company name Roche Commercial, has been jailed for 18-months for stealing thousands of pounds from clients.

The withdrawal of lenders offering interest-only may limit consumer choice, said the incoming CEO of the twin-peaked Financial Conduct Authority, which took over from the FSA yesterday.

Specialist bank and asset manager Investec has launched Investec Professional Mortgages, a new intermediary-only residential and buy-to-let brand tailored to professional borrowers.

The Association of Mortgage Intermediaries (AMI) said it expects advisers' share of the mortgage market to increase markedly this year as a raft of changes boost their prospects.

Industry insiders have confirmed Friend's Life is touting for bidders for Sesame Bankhall Group as the insurer continues its broader cost-cutting and restructuring plans.

The industry is continuing to report pre G-Day sales spikes as it moves beyond the 21 December implementation deadline.

Directors of Black and White Group, Chris Ollenrenshaw and Thomas Reeh have both been fined a total of £60,000 by the regulator, while Adrian Childs and Ollerenshaw have been banned.

Interest-only, sub-prime and self-certification mortgage borrowers will start to launch mis-selling claims slowly, but volumes will build to a crescendo, claims management boss said.

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