Butterfield Private Bank has relaunched its loan service for divorce cases.It aims to help with payment of legal fees and living expenses during divorce proceedings. Butterfield has increased the maximum amount of funds available from 50,000 to 150,000. The launch comes in the week that the Law Lords set a legal pre-cedent by awarding two divorced women multi-million-pound settlements because they had given up high-earning careers. The funds are available on a drawdown basis, where individuals draw and pay interest only on the money they need. The loans are available on an interest-only basis, with the loan secured on the borrower’s share of the matrimonial home or other assets. Interest is usually between a set margin, typically 2 per cent to 5 per cent above bank base rate. There are no redemption penalties on early repayment. Managing director Paul Turtle says: “Divorce can involve both partners in expensive legal bills and yet the expenses of life will continue as before. The loan can help by funding these costs at a time when the parties involved have other priorities to consider.” “We have offered divorce loans for a while and we have recently seen a significant increase in clients’ funding requirements. We hope our loans will help people at what is often a very difficult time.”
Multi-manager MitonOptimal Asset Management is to make its funds available through Standard Life’s wrap product.
Jupiter will become the latest firm to convert its multi-manager funds to a non-Ucits retail scheme structure on July 17.
The A-Day changes bring some relief for a harassed businessman
The Government cannot claim to have introduced fair and sustainable pension reform without addressing the inequalities of public-sector pensions, say Opposition parties. Tory Shadow Work and Pensions Secretary Philip Hammond told Parliament that the Government must reopen the public-sector debate as a future Tory Government will not be bound by legislation that leaves the issue […]
Capital Market Notes, December 2016 David Lafferty, Chief Market Strategist at Natixis Global Asset Management, discusses the outcome of the Italian Referendum. Read the full article here
- Top trends
News and expert analysis straight to your inboxSign up
Latest from Money Marketing
The Financial Services Compensation Scheme has declared self-invested personal pension operators Stadia Trustees, Brooklands Trustees and Montpelier Pension Administration Services in default. The lifeboat fund has received around 150 claims for compensation relating to the three businesses. Those claims relate to how the businesses set up, operated and administered Sipps through which people invested in […]
The Department for Work and Pensions has confirmed it will not change the pensions triple lock and will explore bolstering the powers of The Pensions Regulator in the forthcoming legislative period. The DWP published its “single departmental plan” yesterday, which sets out five objectives it is working towards over the next four years. It has […]
Sam Seaton talks about how her interest in people affects her approach to technology