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CML says e-commerce will co-operate with existing channels

The Council of Mortgage Lenders is predicting e-commerce and established mortgage distribution channels are set to work hand in hand.

The CML is dismissing fears that e-commerce ventures will marginalise traditional distribution channels, claiming the two will cooperate and not compete with each other.

The E-Commerce and the Internet report written by John Gilbert says, that even in the US where online mortgages are more sophisticated and decisions are made quicker, customer take-up remains flat.

Gilbert says despite the internet being popular as a source of information in the UK, few people are comfortable purchasing complicated products electronically, looking instead for a personal service.

He says many people will be attracted to established brand name organisations that can offer a variety of ways of communicating, from internet and telephone through to face to face branch service.


Virgin celebrates fifth birthday

Virgin Direct is celebrating its fifth anniversay with an promise to to lead the way in the personal financial services market over the next five years.With a workforce of 1000 and a customer base of 300,000 it has come a long way since it first opened its 80-strong Norwich call centre in March 1995.The company […]

William M Mercer ditches fund management plans

The investment consultancy giant says it may still offer multi-manager funds for small to medium pension funds in the future, although it is selling SuperFlex the “manager of managers” operation it acquired two years ago.SuperFlex which is being sold to PSG Escher Investments would have formed the basis of Mercer&#39s move into fund management.William M […]

“Keep annuities simple” urges specialist

Pensions specialist Punter Southall is appealing to the Government to keep to new annuity rules simple in response to the DSS consultation paper on annuities.In the paper the Government proposes relaxing the rules for money purchase occupational schemes allowing their members to take advantage of investment linked and with-profit annuities.But the consulting actuary warn that […]

FSA publishes paper on purpose of regulatory capital

The FSA has published a paper examining the purpose of regulatory capital and the impact of its requirements on firms.The paper written by FSA Central Policy Division&#39s Jeremy Richardson and Complex Groups Division&#39s Michael Stephenson discusses how financial firms could be placed in categories by their capital requirements.“Some Aspects of Regulatory Capital” discusses how the […]

William Littlewood “betting that QE won’t work”

Journalist Alexis Xydias interviews Artemis manager William Littlewood about his views on bond, equity and currency markets and the impact of a Greek exit from the EU. With bond yields at “ludicrous” levels, William believes a tipping point for bond markets is sure to come. As a result, his Strategic Assets Fund holds government bond shorts to the tune of 100 per […]


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