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Confidence in property prices collapses – Pru

Homeowners confidence in the value of their homes has plummeted as the nation speculates about a market crash, according to Prudentials tri-annual Mood of the Nation Index.

Only 30 per cent of homeowners expect the value of their home to increase over the next 12 months, compared to 61 per cent in March.

And the number of homeowners forecasting a fall in the value of their home over the coming year has almost trebled from 6 per cent in March to 17 per cent now. This drop in confidence is consistent across all regions of the country.

Director of research Angus Maciver says: “There is undoubtedly a growing nervousness about the housing market. Some people, wisely I think, are starting to realise that they can reduce risk by having a spread of investments rather than tying all their money up in their house.”


Improve scrutiny of life mutuals- Myners

The Myners review of the governance of mutual life offices includes recommendations that aim to enable external monitors to scrutinise life mutuals more closely and promote better internal scrutiny of management by firm’s boards as well as the role of the FSA.Report author Paul Myners says: “I am not recommending legislation, as the issues identified […]

James Hay launches eSIPP

James Hay has launched a new online self-invested personal pension called eSIPP. The eSIPP has a simple charging structure and provides the flexibility of a traditional SIPP without the usual annual charge and set-up fees.Managing director of James Hays SIPP Division Jan Regnart says: “We are really excited to extend our range of SIPP services. […]

Prudential signs multi-tie deal with Destini and Thinc

Prudential has become the fourth life office to sign up to Thinc and Destini’s multi-tie panel.Pru has also been signed up as the IFA’s single-tie annuity provider.Pru’s range of life, pensions and protection products will be available through the multi-tie panel once it is up and running from 15 January.Destini and Thinc have now signed […]

FSA fines Bradford & Bingley 650,000

The FSA has today fined Bradford & Bingley 650,000 for the widespread mis-selling of precipice and with-profit bonds.B&B has also agreed to pay 6m in compensation to the 6,800 customers affected.The FSA says the firm did not make suitable recommendations to customers, did not maintain adequate records of sales, and did not have in place […]


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