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CTFs can help address student debt problem, says F&C

Rising levels of personal debt, particularly that of young people is likely to increase following the introduction of student top-up fees this autumn, warns F&C Asset Management.
F&C says the sooner parents and guardians start saving towards the future cost of a child’s higher education, the better.

It says the average student debt is currently estimated at £12,640 in 2005, but says introducing top up fees will cause this figure to escalate.

The fund manager says child trust funds will have an important long term role to play in building a pot of money that can be used by a child to fund a university course, says director, head of communications Jason Hollands.

He says: “CTFs, which are available to newborn children on receipt of a modest voucher, can be topped up by as much as £1,200 from the parents’ or relatives’ own finances. Investing additional funds, even modest amounts, all help to make the plan worth more over the long run particularly if the right investments are chosen within the plan and the voucher does not end up languishing in a drawer for a year.”


Advisers told of potential flaws in Islamic loans

Advisers who offer Islamic mortgages are being warned of potential flaws compared with standard mortgages. Interest in Islamic mortgages to service the estimated 1.6 million Muslims in the UK is expec-ted to rise after the FSA last month opened a consultation on the regulation of home-purchase plans, as they are also known. The regulations are […]

Body armour has safety covered

It seems that the IFA Defence Union lawyer Andrew Kerr is a man of many talents. His company, England’s Safety Equipment, has just been awarded the Queen’s Award for innovation for inventing the inflatable body armour system. The IBAS, pictured left with Kerr, can apparently withstand armour-piercing fire from an AK47, prevent a soldier from […]

Aifa rejects product-based levy for FSCS

Aifa deputy director Fay Goddard has dismissed advisers’ calls for a product-based levy to fund the Financial Services Compensation Scheme. During a debate led by FSCS chief executive Loretta Minghella at Money Marketing Live earlier this month, several advisers argued that consumers should have to pay for the scheme through small additional charges on products. […]

Choice cuts

Unless MPPI premiums are cut, big losses on mortgages will be inevitable

Time to stop the salami slicing on tax relief

Steve Webb  – Director of Policy and External Communications As the Autumn Statement approaches, Steve Webb calls for the Government to stop tinkering with tax relief. Twice a year, in the run-up to the Spring Budget and the Autumn Statement, we face a torrent of speculation as to what changes the Chancellor might make to […]


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