View more on these topics

Charcol switching site to supermart

Mortgage IFA Charcol is to convert online broking service Charcolonline into a fund supermarket offering a range of products and services from other companies.

Charcol, acquired by Bradford & Bingley in February 2000, will reposition its mortgage website later in the year as a supermarket offering products including stakeholder, bonds and Isas.

The technology for the electronic platform will also be used to power a similar service which B&B intends to offer under its own brand when the supermarket is launched.

Charcol says the two websites will offer different products, with Charcol targeting higher-net-worth clients.

Despite the shift in focus, Charcol will continue to offer mortgages online after recording “significantly” higher volumes of internet applications than last year.

The full range of financial services that both websites will provide is yet to be decided but Charcol says there will be a raft of navigation tools.

The move has resurrected speculation that Charcol is due be rebranded in line with B&B&#39s IFA operation The Market Place but the bank says it has no plans to do so in the foreseeable future.

Charcol managing director Toby Strauss says: “We believe people need a trusted brand and with Charcol and Bradford & Bingley we have two. We need to transact with customers how they want to transact with us and that is through all distribution channels.”


Ipswich BS makes tracks

Ipswich Building Society has introduced a tracker mortgage that has redemption penalties in the first three years.The mortgage remains at 0.75 per cent above the Bank of England base rate for the life of the loan, giving it a payable rate of 6.25 per cent. It is available for loans of up to 95 per […]

Irish Parliament: more room for charges

The Republic of Ireland has unveiled its planned stakeholder-style pension, the Personal Retirement Savings Account, but without the tough charging regime.The new pension shares all the hallmarks of stakeholder, including an emphasis on portability and flexibility, but the products have charges capped at 5 per cent of contributions and 1 per cent of total assets.Scottish […]

Four-step approach to emulate wizards of Oz

How can you ride the transition from anup-front commission basis to a scraping-the-barrel scenario?With the potential for afurther eight million customers as a result of the Government&#39s announcement on concurrence, more and more IFAs can visualise the need to advise the generic public on pensions as opposed to concentrating efforts on targeted clients.It is hard […]

Investment Update

New Star Asset Management has raised £25m of new equity from investors, including a number of undisclosed UK financial institutions and wealthy individuals. As well as subscribing for equity now, the group of inv-estors has agreed in principle to provide an additional £125m in future to finance major acquisitions. Close Brothers Group fund management division […]

Guarantees in the retirement income market

Lorna Blyth, Royal London  Do guarantees benefit customers and, if so, when? To answer this conundrum we commissioned Millimans, a global actuarial consulting firm, to conduct an independent review of the UK retirement income market and whether guarantees really do offer customers better value for money. The brief The study was one of the most comprehensive undertaken […]


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