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Chancellor set to extend £7,000 limit on Isas

Chancellor Gordon Brown was expected to extend the £7,000 Isa maximum investment limit for the next five years in his pre-Budget statement this week, as Money Marketing went to press.

The news will be welcomed by fund managers and IFAs who have been lobbying for the continuation of the limit for the past year.

The early timing of the announcement will also be well received. In March, fund managers had to ditch thousands of pounds worth of literature and change admin systems after Brown changed the limit.

Brown is also expected to red uce the minimum age for Isa investors from 18 to 16.

The industry is also hoping to see the harmonisation of Pep and Isa rules. Currently, Pep restrictions still require investors to have 75 per cent of their portfolio with funds investing at least 50 per cent in EU countries.

Threadneedle communications director Richard Eats says: “We have had a number of IFAs calling recently who wanted to switch from CGU&#39s monthly income plus fund to our corporate bond fund. Unf ortunately, we were unable to take any Pep transfers bec ause of the restrictions.”

M&G director of sales and marketing opportunities Jeff rey Mushens says: “If the predictions are true, it is going to be good news for Isas, good news for fund providers and good news for IFAs.”

Average house prices rose at a faster rate in real terms during Edward Heath&#39s Tory Government of 1970-74 than under any administration since, according to a survey by the Halifax.

The study shows the average British house price has risen by more than 22 times since 1970, with the fastest growth happening in Heath&#39s four years as Prime Minister when house prices rose by an annual average of 11 per cent.

The biggest growth came in 1973 when house prices rocketed by 40 per cent, which Halifax says has not happened before or since.

The period of slowest growth was under John Major&#39s Government when house prices fell by 14 per cent in real terms from 1990-1997.

Halifax economist Martin Ellis says: “Home owners have seen good rates of increase under both Labour and Tory Governments, just as they have seen house prices fall under both Governments.”


Individual plans gain ground

In the race to get stakeholder pensions registered with Opra, individual plans are gaining ground over group schemes.Opra and the Inland Revenue say 15 companies have applied to register stakeholder plans and five of these, Barclays, Britannic, NatWest Life, Norwich Union and Royal & Sun Alliance, have successfully had their individual stakeholder plans approved.The only […]

EMX asks fund firms for £2m

EMX, the electronic messaging exchange, is asking fund managers to stump up an extra £2m after running into severe financial difficulties.Since the launch in June, there has been a much slower take-up by fund managers than expected and minimal use by intermediaries. By mid-September, it had only processed just over 3,000 transactions.It is thought that […]

BSkyB channel could aid IFAs on CPD points

BSkyB&#39s planned financial services channel could allow advisers to earn their continuing professional development p oints through TV by interactive viewing and testing.Under Financial Channel proposals, advisers may be able to earn points by automatically logging their viewing, taking part in interactive panel discussions or by using their remote controls to select multiple-choice test questions.The […]

Nottingham Building Society – 3 Year Discounted Mortgage

Thursday, 9th November 2000.Discounted term: Three years.Discount: Up to 75 per cent of valuation 1.7 per cent, 76-90 per cent of valuation 1.55 per cent, 91-95 per cent of valuation 1.4 per cent.Payable rate: Up to 75 per cent of valuation 5.79 per cent, 76-90 per cent of valuation 5.94 per cent, 91-95 per cent […]

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Global benefits predictions for 2015 from Jelf International

According to Doug Rice, managing director of international services, in 2015, managing their international duty of care will become an increasing focus for UK-based overseas organisations in both managing their short- and longer-term challenges. As a result, strong independent advice and innovative technological solutions will become more important than ever in managing their global benefits.


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