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Coventry fixes loan at 6.9% until 2002

Coventry Building Society is offering a mortgage fixed at 6.9 per cent until November 2002 up to 75 per cent loan to value.

At the end of the term, borrowers will automatically qualify for the society&#39s privilege rate which is currently 7.95 per cent. Arrangement fee is £295. Early redemption penalty is six months&#39 interest. There are no conditional insurances.

Chief executive Martin Ritchley says: "The product offers long-term stability with the interest fixed initially at a low rate, after which customers will automatically transfer."


IFAA and SLOC unite in promotion bid

The IFA Association and direct-sales life office Sun Life of Canada are seeking to fight back against execution-only companies by promoting financial advice. IFA Association chief executive Garry Heath is aiming to bring in intermediary organisations such as IFA Promotion to join a new discussion group or forum to consider how best to promote financial […]

Britannia Life tightens up drawdown training

Britannia Life is tightening its income-drawdown requirements for its broker consultants by forcing them to pass tough new exams. Seventy-six consultants sat an in-house exam after a three-month course. Two consultants failed the exam but nearly half passed with flying colours, achieving scores of 75 per cent or more. The two who failed will undergo […]

Clerical bids to double share

Clerical Medical is unveiling the first stage of a radical five-year plan to nearly double its IFA life and pension market share by revamping its pension policies. The life office is aiming to boost its IFA market share to 8 per cent from 4.5 per cent. It claims it will achieve this by overhauling its […]

NPI claims the lowest pension fee

NPI is rolling out a regu lar-premium pension policy which it claims has the lowest annual management charge in the market at 0.15 per cent. The move reflects NPI&#39s belief that too many pension customers are penalised for taking premium holidays or making their policies paid up. The life office claims that the average annual […]


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