View more on these topics

Building societies dominate best buy tables

Building societies are now dominating best buy tables with 83 per cent of the most competitively priced products being offered by mutuals, according to analysis by Castle Trust.

Figures show 33 out of 40 best buy mortgage deals across fixed, variable and buy-to-let deals are provided by building societies. This compares to 18 out of 40 in 2008.

Average rates on building society best buy mortgages are currently 3.26 per cent compared with 6.2 per cent in 208 and lower than the 3.81 per cent in October 2012, when Funding for Lending started to take effect.

Data from the Building Societies Association shows mutuals advanced £2.5bn in February, representing 21.5 per cent of the mortgage market.This is nearly double the 12.9 per cent market share building societies occupied in 2009, their lowest share in a decade.

Castle Trust chief executive Sean Oldfield says: “The strong recovery since 2009 means building societies’ market share is the highest since 1999 . They are competing strongly against bigger banks and are proving to be innovative and responsive to the demands of the market.”


Target practice

The implementation of the RDR has prompted many investment advisers to take a good look at their service models to see how they and their clients can benefit from using alternative investment strategies. This is why outcome-focused solutions such as risk-targeted funds, many of which aim to achieve their objectives through dynamic asset allocation, could […]

Incentive plan pushes Standard Life chief’s pay up to £5m

Standard Life chief executive David Nish saw his overall pay reach £5m for 2012, including £2.8m relating to the firm’s long-term incentive plan. Nish’s total pay for 2012 included a base salary of £775,000, a £1.2m annual bonus and £2.8m related to the group’s long-term incentive plan which is due to vest in June. Nish’s […]

Ken Davy’s Sandringham offers advisers and staff 40% equity deal

SimplyBiz founder Ken Davy’s restricted advice firm Sandringham Financial Partners is offering up to 40 per cent of the business to advisers and staff. The firm will set a cut-off deadline later this year when all current advisers and staff will be eligible for equity. Sandringham was formed in July 2012 and in January this […]

City Financial acquires OPM Fund Management

City Financial has acquired OPM Fund Management for an undisclosed fee. The deal sees City Financial acquire OPM’s £75.2m fund range with City Financial head of multi-asset Mark Harris taking on the management of the EFA OPM Worldwide Opportunities fund and EFA OPM Diversified Target Return fund. OPM fund manager Tony Yousefian will join the […]


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