Norwich Union has seen a 25 per cent rise in UK life and pension new business from £9.2bn in 2005 to £11.bn in 2006. Investment sales grew by 48 per cent to £4.9bn.
A judicial review has clarified the right for advisers to make time-limited cash offers to claimants as an alternative to taking complaints to the Financial Ombudsman Service.The case originated from a dispute involving an insurance broker who offered a claimant £3,000 – half the amount claimed – if they accepted the offer within a month.The […]
Kensington has made its full launch into the specialist prime market.The lender has been piloting prime self-cert and buy-to-let over the past six months but has unleashed them onto the market from today.Kensington’s message to brokers is that it can now provide any mortgage other than mainstream prime.Its self-cert deals start at 5.45 per cent […]
I read with disquiet that HM Revenue and Customs has confirmed that gifts to minors through an absolute trust will be treated as a chargeable lifetime transfer rather than a Pet and that is the opinion of Skandia that if it is a CLT it will be hit by entry, periodic and exit charges. If […]
Guy Anker looks at the reasons for the rising repossession rate.
By Kunal Desai, head of Indian Equities, Neptune A key concern for investors who were looking at India afresh has been the rich valuations and strong prior performance. We view the correction in the market through short-term growth concerns from demonetisation as a terrific entry point for the long-term investor. Investors should not be overly concerned […]
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A decade ago, I went through the pain of switching utility providers. Deterred by a catalogue of errors, it is only recently, after a house move, that I tried again. I was pleasantly surprised by how easy it was. It has made me think about how complex and expensive it is to switch in financial […]
It has never been more important to encourage saving. But advisers know only too well how challenging the complexities of the UK savings and pensions landscape make it for people. Any trends towards simplification would be welcome, but unfortunately recent developments have moved in the opposite direction. Take Isas, for example. Their simplicity has always […]
The FCA has confirmed it will consider if there needs to be better guidance around when it and the Financial Ombudsman Service can share information ahead of the FOS making its final decision. In a Complaints Commissioner final report, published on its website yesterday, commissioner Antony Townsend invited the FCA and FOS to discuss when […]