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Borrowers back banks over IFAs

The majority of sub-prime borrowers would rather approach their bank than go to a mortgage adviser, according to research by Edeus.

In a survey of 500 consumers, 58 per cent say they would approach their own bank or building society while only 40 per cent would go to a mortgage adviser or an IFA.

When asked why they would go to a high-street len-der, 26 per cent say it is because they have a wide range of mortgage products, 21 per cent say it’ is easier than going to a mortgage adviser or IFA, 18 per cent say it is because their bank or building society already knows their personal financial circumstances, 14 per cent say they would be able to secure the most favourable rate by doing so and 12 per cent say it was because they have a well known brand name.

Edeus spokeswoman Nicola Severn says: “With the recent activity in the capital markets resulting in an increase in the cost of adverse mortgages and a potential decline in their availability, borrowers with adverse credit histories are more likely than ever to be in need of professional advice.

“We know from lending statistics that the majority of borrowers come via the intermediary route but these findings clearly show that there is a sub-section of society who are confused about the role intermediaries that play.”


Sectors’ house needs clean-up

With talk of the Investment Management Association creating new sectors to house the latest trend of total return funds comes the inevitable criticism of existing sectors and the funds listed within them.The biggest target of all in this never ending debate is the make-up of the large UK All Companies sector, which features a broad […]

Obituary of Alexander Scott Bell by former Standard Chief Executive Jim Stretton

Alexander Scott Bell, who died on Thursday aged 65, was one of the most significant business leaders in Scotland of the last century and the very early part of this. As Managing Director of the Standard Life Assurance Company he led the giant Scottish based mutual to unprecedented successes in the highly competitive world of […]

F&C launches a diversified growth fund

F&C is launching a diversified growth fund which it says aims to address the lack of portfolio diversification across pension schemes.F&C says the fund will offer an alternative to the balanced pooled platforms currently available in the UK market place.The F&C diversified growth fund has a 50 per cent exposure to alternative assets. F&C says […]

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Considerations for overseas workers in Germany

With Germany’s strong economic growth leading the eurozone’s recovery, many UK businesses are keen to be part of the success story: recent data shows that there are currently more than 280,000* employees working for a UK-controlled company in the country.


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