The Council of Mortgage Lenders has welcomed the Bank of England's Monetary Policy Committee's decision to cut interests by a quarter per cent.
Director general Michael Coogan says: "Once again the base rate cut is welcome. It will help reassure mortgage borrowers at a time when other economic data is less positive.
"Mortgage rates have the capacity to fall further during the course of this year which will provide a welcome boost to affordability for home-owners."
Clinicare says it is increasing PMI premium rates by just 5 per cent for the second consecutive year.It says the modest increase is the result of a very successful 1998 during which it picked up a number of sizeable group schemes.Group manager Les Curson says: "Some providers will raise subscriptions by 25 per cent. Our […]
Leeds-based IFA network M & E is to join forces with the Interdependence Network to create the third largest IFA network in the country.The Interdependence board accepted an offer from the Greatminster Group which owns M & E through holding company Tenet Ltd. Both companies will now come under this company.The new group will employ […]
IFAs consolidated their position as the dominant distribution channel for 'non bank' personal finance products sales in the third quarter of 1998.Their market share rose to 60 per cent in the third quarter of 1998 from 57 per cent in the second quarter according to IFA Promotion.It says overall sales in markets covered were down […]
IFAs are warning clients to think carefully before opening pre-cash ISA accounts describing them as nothing more than "marketing gimmicks".They are warning clients that the products will tie them to companies that will not be offering the best ISA products in April.And if they shop around they will find that other building societies and high […]
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Why it’s time to reconsider structured products
HMRC is clamping down on remuneration schemes designed to avoid income tax and National Insurance You may have seen a bit in the financial news lately on the loan charge tax to be levied on payments received by employees through disguised remuneration schemes used to avoid income tax and National Insurance contributions. Those involved will […]
The FCA has drawn a blank on providing an estimate of the level of so-called “phoenixing” by financial advice firms. Phoenixing is the term used to describe the practice where directors of advice firms with impending complaints wind the firm down, so do not pay out on the claims, which then have to be handled […]