View more on these topics

B&B bungle throws parents into turmoil

A letter sent in error by Bradford & Bingley has thrown thousands of parents into confusion over windfalls for their children.

For the past few months B & B has implied that its 200 000 young savers will receive windfall shares when it is floated on the stock market later this year.

But a letter saying trustee account-holders do not qualify for windfalls unless the child is incapacitated was sent in the past week to many of B & B&#39s three million members.

This weekend, Bradford & Bingley said that though the letter had gone out to three million members, it was targeted at carers. &#39This letter is aimed at members who operate savings accounts on behalf of people they care for,&#39 it said.

Members should not read into it that children who have savings accounts set up on a trustee basis will necessarily be excluded from shares.


Leeds & Holbeck offers special rate

Building Society Leeds & Holbeck is offering a special rate to new Instant Isa customers who open accounts before April 5. The 7.2 per cent rate is guaranteed for the 2000/2001 tax year and is available with a minimum balance of £1. The society&#39s Isa sales tripled during March taking the number of members up […]

Newcastle Building Society in charity link-up

Life office Ecclesiastical has halved the initial charges on its Isa to 2.5 per cent for new applications received by April 5. Its cash Isa lets investors donate a percentage of their savings to a range of charities as well as benefiting from having money in a tax free shelter. The society has teamed up […]

Richard Harvey

Shareholders in CGU and Norwich Union have until March 31 to give thego-ahead to the creation of the UK&#39s biggest life office.The two insurers have launched a charm offensive to sway shareholderopinion in favour of the proposed deal.If they succeed, it will be the responsibility of mild-mannered churchwarden Richard Harvey to ease CGNU into the […]

Halifax one million Isa boast

Halifax says it is the first financial services provider to attract one million cash ISA customers. The latest Inland Revenue statistics show that Halifax has taken a market leading 30 per cent share of the “mini” cash ISA market. The take up of Halifax&#39s cash ISAs by younger savers in the 18 to 34 age […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm