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Aifa sets up new body for loan advisers

Aifa is urging mortgage advisers to join its new trade association.

The Association of Mortgage Intermediaries will operate as a division of Aifa with its own board which will determine policy on mortgage intermediation. Chairman will be TQ Mortgage Service chief executive and former Namba steering committee chairman Charles Gooding.

AMI fees range from £160 per firm plus £20 per adviser for firms with one to five RIs to a £3,000 flat fee for firms with 200-plus RIs.

Mortgage IFAs Charcol, Chase de Vere Mortgages, London & Country, Mortgage Force and Savills have all already signed up. Mortgage clubs Legal & General, Mortgage Intelligence, Mortgage Next and Norwich Union have also become affiliate members.

The CML and Imla are providing a £100,000 interest-free loan facility to meet start-up costs but the AMI is looking to raise further cash.


Consumers using trees but they still want advice

Consumers have used decision trees when deciding whether to buy a stakeholder pension but most still want access to professional advice, according to FSA research. The regulator&#39s consumer and provider research into stakeholder and decision trees was published this week, a month after headline results were revealed at an FSA seminar into the sales process […]

Insurance chief execs pour scorn on Sandler suite

An ABI report says the vast majority of UK insurance chief executives believe that a price-capped Sandler suite of products will make no impact or very little impact on closing the savings gap. Ninety-one per cent of the 76 chief executive responding to the survey last week said they were not convinced that the proposed […]

Leeds & Holbeck Building Society

Tuesday, 15 April 2003 Type: Capital protected Tessa-only Isa Aim: Growth linked to the performance of the FTSE 100 index Minimum-maximum investment: £3,000-£9,000 Investment choice: Capital protected Tessa only Isa Term: Six years Guarantee: Original capital returned in full regardless of performance in index Return: Subject to a minimum of 10% and maximum of 60% […]

Morley looks for hot property

MORLEY FUND MANAGEMENT MORLEY HIGH INCOME PROPERTY FUND Type: Unit trust Aim: Growth by investing in direct property, property related corporate bonds and cash Minimum investment: Lump sum £10,000 Investment split: Direct property 75%, property related corporate bonds 20%, cash 5% Isa link: No Pep transfers: No Charges: Initial 5%, annual 1.5% Commission: Initial 3% […]

Auto enrolment – so far so good?

Jamie Clark – Business Development Manager The recent report from the Pensions Policy Institute demonstrates the sheer scale of auto-enrolment so far and what we can expect in the future. We’ve pulled out the key information to save you reading the full report. Auto enrolment in numbers Sources: Pensions Policy Institute, The Future Book: Unravelling […]


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