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Critical points on CA criticism

The article on Lifesearch&#39s response to the Consumers&#39 Association report on poor critical illness advice was accurate (Money Marketing, June 10) but the headline was somewhat dramatised.

Lifesearch did not “slam” the Consumers&#39 Association report. In fact, we praised more than we criticised but we did ask them to stop slandering all financial advisers when they have found fault with only one specific type of adviser.

The CA&#39s press release about the report itself ran with the heading, Financial advisers can&#39t be trusted, and even in their response last week they talk of the “majority of advisers”, when we know they really mean the “majority of high-street mortgage advisers who also sell protection on the side”.

This suggests an approach of picking the worst and then damning us all. This is good only for destroying consumer confidence in financial advice, which is not, I trust, The CA&#39s aim. A far more responsible approach would be to explain the alternative, more reliable, sources of advice that are easily available through IFAs, particularly specialist ones.

Tom Baigrie Managing director,Lifesearch


Abbey introduces fast-track service

Abbey for Intermediaries has introduced a fast track process for low risk customers borrowing less than 60 per cent LTV and less than £500,000. The deal applies to both employed and self-employed borrowers and is part of a new flexible lending policy based on affordability. Abbey says the changes have been made in line with […]

Treasury says move strikes balance between the market and consumers

Treasury financial secretary Ruth Kelly says the Government&#39s decision to set the price cap at 1.5 per cent strikes a balance between market economics and the interests of consumers. She says that, to inform its decision, the Government commissioned research by Deloitte on the market impact of a range of price caps. She says: “The […]

FSA picks probe team for BBB

The FSA has appointed investigators to scrutinise the liquidation of Berry Birch & Noble Financial Services following its decision to block Berkeley Berry Birch&#39s bid to dump the national IFA shell&#39s potential liabilities. The regulator halted the transfer of BBNFS&#39 business to BBN Financial Planning in April as “a precautionary measure” pending its review of […]

Lending down by £1bn in May

Mortgage lending was £1bn lower in May than in April, according to the Council of Mortgage Lenders. Gross lending amounted to £23.8bn in May, down from £24.8bn in April but still nearly 9 per cent higher than in May last year. The number of house purchase loans fell to 103,000 in May from 118,000 in […]

Who pays inheritance tax and how to declare it

By Kim Jarvis, Canada Life In this article we look at which forms personal representatives (PRs) need to complete and who actually pays inheritance tax (IHT).  To recap, under current rules, any part of the estate that falls within the available nil-rate band (NRB), currently £325,000, is taxed at zero. Anything in excess of the NRB […]


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