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Building society lending triples over past year

Building society gross advances have increased to £5.2bn in October up from £3.1bn a year ago. Approvals are up to £5.1bn up from £4bn a year ago.

BSA director-general Adrian Coles says: “Building society net advances tripled in the year to October 2003, starkly re emphasising the attractions of building society mortgage products in a strong housing market, and an active remortgage market. Societies&#39 market share has grown strongly this year.”


Axa is set to quit pre-funded LTC

Long-term care heavyweight Axa&#39s Lifetime Care is pulling out of the pre-funded market at the end of the year, blaming falling demand and consumers placing a higher priority on other products such as pensions. The firm is to shift its focus to the growing immediate needs market. The move affects all pre-funded Lifetime Care plans, […]

750 advisers pass the CII&#39s new savings and investment exam

Over 750 advisers have passed the CII&#39s second sitting of its new training module which focuses specifically on savings and investments. This brings the total number of advisers that have passed the exam to 1,447, with 759 passing this time around and 688 successful candidates at the initial sitting of the exam in April. The […]

Dirty deed wins vote for McFall

Lifelong Co-operative Party member John McFall revealed how easy it is to get your constituency&#39s vote at the BSA&#39s annual lunch last week if you are only willing to get your hands dirty. Labour MP McFall was laid into by a constituent who blamed him for the failure of his washing machine – bought at […]

Puzzling approach to reprojections

Although the FSA has wriggled away from all calls for a formal review of low-cost endowment sales practices, it seems to be doing everything else in its power to ensure that the public are encouraged to complain about them. For example, we are now seeing: •Reprojections of possible maturity values based on assumed future growth […]

Canada Life annual IHT survey results

75% of wealthy unaware of new residence nil rate band IHT allowance Just 4% were aware the new allowance will be up to £175,000 per individual Lack of awareness of IHT rules means families risk paying a bigger bill than they need 83% think the current inheritance tax rules are far too complex A remarkable […]


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