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&#39Educate public on offset loans&#39

Borrowers with expensive unsecured loans should use offset mortgages to reduce the cost of their borrowings, says market research firm NOP Financial.

In the CML&#39s Housing Finance journal, it argues that the marketing of offset has focused on the benefits of offsetting savings against the mortgage to reduce the amount of interest paid. But it points to markets such as Australia where borrowers without savings are adopting offset mortgages to pay off unsecured debt with high levels of interest.

NOP Financial says lenders must educate customers about how offset works. It says caution and lack of understanding mean many borrowers continue to hold savings accounts and borrowings separate to their current account or offset mortgage. But it believes people have responded positively to the flexibility of offset mortgages and, as a result, such loans will be able to widen their appeal.

Intelligent Finance sales and marketing director Ian Jeffery says: “Research conducted for us at the end of 2002 indicated a further 10 million UK banking customers would consider switching to a bank providing offsetting.”


Friends buys 9.9% stake in Lighthouse

Friends Provident Life and Pensions is taking a 9.9 per cent stake in Aim-listed IFA Lighthouse for just over £700,000.Friends is the third provider to snap up a piece of the 500-RI firm, which is looking to multi-tie parts of its business in the second quarter of the year after depolarisation.Friends takes a 9.9 share […]

Smoke gets in your eyes…

It may be the fag-end of the Isa season but the diary thinks Britannic Retirement Solutions head of communication Jim Boyd&#39s tongue was only slightly in his tobacco-filled cheek when he suggested launching a campaign to persuade annuity purchasers to start smoking on National No Smoking Day.An ashen-faced Boyd feared his pipedream to filter better […]

Fortune Asset Management – Muzinich & Co&#39s Hedgeyield

Thursday, 6 March 2003 Type: Hedge fund Aim: Growth by investing in high yield corporate bonds Minimum investment: Lump sum $1m Place of registration: Cayman Islands Investment split: 100% in high yield corporate bonds Charges: Initial up to 5%, annual 1% Commission: Subject to negotiation Tel: 020 7355 2000

Investors taking a hands-off approach to shares

More than three-quarters of shareholders plan to leave their shares untouched over the next three months, indicating that investors may believe the market has bottomed out, according to research from stockbroker comdirect.The company&#39s quarterly cash confidence survey, which investigates the public&#39s attitude to investing, shows that 77 per cent of people with shares intend to […]

Parental leave and pensions

Fiona Hanrahan  – Senior Product Insight and Technical Support Analyst We are often asked how parental leave impacts workplace pension schemes in terms of funding in general, auto enrolment and salary exchange. This article will explain each of these. How does parental leave impact the funding of workplace pension schemes? A member of a defined […]


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