The Treasury should extend the regulation of equity release to home reversion schemes, the vast majority of respondents to its consultation closing this week believe. With more than 50 responses received, most – including Sofa, the National Consumer Council and the Financial Services Consumer Panel – support the FSA regulating the entire equity release market.
By offering a guarantee to new investors, Norwich Union is reinforcing its commitment to the with-profits market. In light of the speculation regarding Standard and the negative press sentiment concerning with-profits in general, this is a very defiant and bold move. The guarantee ensures that, after five years, the minimum that investors will receive is […]
Nationwide Building Society has made slight reductions in the rates on its fixed-rate and tracker mortgages. Its two-year fixed rate goes down from 4.81 per cent to 4.79 per cent while the three-year fix rate is cut from 5.11 per cent to 5.09 per cent from 5.11 per cent and the five-year fix from 5.31 […]
Intelligent Finance says mortgage applications have soared by 21 per cent since it launched its two new standalone products - fixed rate and tracker rate mortgages - through professional advisers two weeks ago. On the back of this strong demand, Intelligent Finance will be offering these two new products directly to consumers from 16 February. […]
Aifa has warned that the FSA needs to be more concerned with the timing of the many upcoming EU directives rather than the precise wording of each document, saying taking on so many directives at once will be costly and confusing. The warning comes as Aifa responds to the FSA's consultation on the implementation of […]
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Three fund selectors give their views on choosing passive funds, blending, and investor suitability
The youngest ever fellow of the Personal Finance Society has moved to a new advice firm. Vito Faircloth gained the accolade last year at the age of just 22. He became level four qualified in August 2015 before taking additional exams with the professional body. Chief executive Keith Richards described the achievement as “truly remarkable”. […]
Providers are calling on the Work and Pensions Select Committee to tackle the advice gap and tax on pension withdrawals in its review of pension freedoms. The committee said last month it was opening an inquiry into whether the pension freedoms are achieving their objectives and if policy changes are needed. In its submission to […]