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&#3916-24 year-olds too relaxed about debt&#39

The Mortgage Lender is warning 16 to 24 year olds have a worryingly relaxed outlook on debt and think nothing of running up debts of £3,130.

Research by the specialist lender of 2,000 people last month shows this figure is over double the amount people older than 55 think is an acceptable amount of debt, saying £1,712 should be considered the limit.

TML says these findings come shortly after the FSA warned the UK has taken on an unsustainable level of borrowing.


Pru raises CI premiums by average 22%

Prudential is the latest in a growing list of product providers to increase critical-illness cover premiums.The Pru&#39s rates on its only CI product, Prudential protection, a mortgage term-linked policy, will increase by an average of 22 per cent from this week.The company says it is maintaining rates on a guaranteed basis for the length of […]

Clerical ad campaign looks to the long-term

Clerical Medical will be appearing on TV screens throughout March with a series of ads showing an optimistic approach to long-term saving.The central theme of the adverts is “Plan for Tomorrow, Live for Today”, projecting the message that people can relax more today if they know they have sorted out their finances for the long […]

Ailing MFR is driving down transfer values

The minimum funding requirement is now so weak that young scheme members&#39 transfers are only worth 15 per cent of the cost of buying the benefit with a life company, according to leading actuaries.Assumptions for price inflation, longevity and gilt and equity returns have changed so much since the MFR was introduced that minimum transfer […]

Turning to technology

IFAs are increasingly coming to realise the benefits of technology. Technology that makes tasks like policy valuations and report-writing possible at the touch of a button are becoming invaluable.Allowing IFAs to access services quickly and easily has become the industry&#39s goal and straight-through processing of business is considered the ultimate aim, although this still has […]

Testing the Foundation

The global economy isn’t headed into recession, at least not yet. This month, David Lafferty, Chief Market Strategist at Natixis Global Asset Management, examines current capital market and portfolio risks for signs of recession. Click Here for Capital Market Notes


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