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Abbey plans 2008 return to equity-release market

Abbey is considering a return to equity-release lending after quitting the sector two years ago.

The firm already funds a number of other equity-release players, including recently launched Stonehaven, but plans to offer its own products again, probably from next year.

Abbey moved into equity release in July 2003 with a pilot offering and was a member of Safe Home Income Plans. But its service gradually wound down off and it quit Ship in November 2005. Other high-street players such as Barclays, HBOS and Nationwide are understood to be keeping a close eye on the market.

Abbey for Intermediaries managing director Ricky Okey says: “Equity release is more than buying a mortgage product. Special advice is extremely important. It is a growing market segment that could get much bigger and if it is good for the customer, we would want to get involved.

See article on market share


Gavin Stewart pipes in the haggis…

Resolution chief executive Gavin Stewart piped in the haggis at the firm’s massive Burns Night bash. The haggis was not to everyone’s taste. Thankfully, Resolution kindly supplied ample whiskey to take the taste away.

Money Partners relaunches website

Money Partners has enhanced and relaunched its public-facing websites.The redesign includes a newly formatted media centre and separate sites for customers and prospective employees. Intermediaries have their own site linking to Money Partners’ broker extranet, MoneyPort.IT director Richard Davis says: “Having significantly upgraded MoneyPort in 2006, and following very positive feedback from our broker-user surveys, […]

No holding back

In my last article, I began to describe the most important features and strategies in a director share-purchase arrangement.

Complex tax chaos to hit Asp benefits

Beneficiaries who inherit death benefits from alternatively secured pensions could have to pay 55 per cent tax from their own pocket, warns Skandia.This charge comes on top of 40 per cent inheritance tax already taken out of the deceased’s pension fund.Head of marketing and pensions Billy Mackay says the industry has largely overlooked the fact […]

Guarantees in the retirement income market

Lorna Blyth, Royal London  Do guarantees benefit customers and, if so, when? To answer this conundrum we commissioned Millimans, a global actuarial consulting firm, to conduct an independent review of the UK retirement income market and whether guarantees really do offer customers better value for money. The brief The study was one of the most comprehensive undertaken […]


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