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Coventry sets ERC example

Coventry Building Society says it expects other lenders to follow its example of axing early repayment charges from its sub-prime range.

It has set up a suite of near-prime, light-adverse and extra-light adverse deals without an ERC, claiming to be the only top 20 lender to make the move.

Head of intermediary sales Julie Jones says: “I am sure other lenders might follow. We want to be a little bit different and more transparent.”

Head of sales Colin Franklin says: “If a client qualifies for a standard mortgage instead of a credit-impaired mortgage, the system will automatically move the application to the correct range.”


Abbey sets new targets after Resolution deal

Abbey is aiming to more than double its share of the investment and pension market in the next 18 months following the sale of its life business. Its push in these areas will see the Spanish-owned bank increasing its team of in-branch advisers from 350 to 750. The move comes after Abbey agreed to sell […]

This week in Regulation

Although the two free case rule protects the vast majority of advisers from ever having to pay a case fee to the FOS, the mere prospect of paying to prove their innocence has always stuck in advisers’ throats.

The tides of investment

There are some key places around the globe where you can get a better perspective on the world economy.

The MM Profile: Martin Bamford

Martin Bamford is the son and the employee one of the most respected independent financial advisers – Nick Bamford.

Time for a new approach to asset allocation

Trevor Greetham, RLAM’s head of multi asset, introduces the recentlylaunched RL GMAPs. Asset allocation has become an increasingly difficult challenge for investors and advisers in the years since the financial crisis. Sometimes violent price swings in stock and commodity markets coupled with the collapse in the rate of interest on bonds have made it harder […]


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