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B&B plans to slash lender panel again

Bradford & Bingley will be looking to reduce its panel of twenty-five lenders by the end of October and cannot rule out it may be reduced to less than ten. This follows an initial reduction at the beginning of the year from an original panel of 50 lenders.

Head of retail mortgages David Bitner says: “We would balance any reduction without compromising the offer available to consumers. I don’t think that we are going to reduce the panel as low as some estimates have been saying, but I wouldn’t be able to confirm that.”

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Tax move to kill off s32 business

The pre-A-Day section 32 market has been virtually killed off by a Revenue & Customs’ move to block unnecessary pension transfers, says Norwich Union. NU head of pensions Iain Oliver says it is no coincidence that this move follows swiftly from the FSA’s warning that it will closely monitor all section 32 business and clamp […]

Riddoch moves in shake-up

Clerical Medical financial services sales director Graeme Riddoch is moving within the HBOS group in a restructure of the intermediary division. The review was instigated by Clerical parent firm HBOS which has changed Riddoch’s former role. Clerical director of market development Keith Gilmour will take on Riddoch’s workload in the new role of director of […]

Revenue sets up pension workshops

Revenue & Customs is running a series of pension simplification workshops for the financial services industry, inviting IFAs and product providers clarification about the new rules from A-Day, focusing on Sipps. The workshops will take place in the autumn, with dates to be confirmed.

Brokers want FSA to stamp on Sipp philately schemes

Stamp specialist Stanley Gibbons is using Sipps to promote purchases of coins and stamps, prompting calls for regulation of alternative inv- estment companies target- ing pensions. Gibbons is promoting rare stamps, coins and autographs as collectable assets for Sipp investments which can earn tax relief. The company’s website gives the example of rare stamps such […]

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