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Penile dysfunction does not often make it on to the pages of this perfectly functioning organ but it has come to the Diary&#39s attention that it has been exercising the (some might argue smutty) minds of the mortgage market. Well, one poor Manchester broker, anyway.

Imagine the surprise of the poor wee fella (the broker, that is) when, on returning the call of a freelance journalist, he was asked: “Are you calling about premature ejaculation?” “Erm, no, I don&#39t think so,” came the reply from our broker.

Ah, the joys of writing two articles at once and confusing being first to market with offset mortgages and, well, just coming first.


Aberdeen to contest watchdog ruling

Aberdeen Asset Management plans to appeal against a provisional Financial Ombudsman Service judgement which could force it to pay compensation to thousands of investors. The FOS adjudicator has ruled in a lead case that an investor in AAM&#39s progressive growth unit trust &#45 which invested in split caps &#45 is entitled to compensation. But AAM […]

Winterthur fund range goes on the defensive

Winterthur Life is introducing a range of defensive managed funds for pension and investment bond investors. The funds will aim at cautious investors by offering lower volatility through a conservative split of around 67 per cent in bonds and 33 per cent in equities. Asset allocation will initially be 26.5 per cent in UK equities, […]

Abbey axes annual bonuses

Abbey has admitted that no annual bonus will be paid for the with-profits policies of Abbey National Life, Scottish Mutual and Scottish Provident except where guaranteed rates of bonus apply. Terminal bonus rates will also be reduced for unitised and traditional with-profits policies from March 2004. Abbey says the stockmarket recovery has been too short […]

Advisers will be probed on rebated commission

IFAs will be questioned over the amount of commission they rebate back to clients as part of the FSA&#39s bid to calculate the market average commission under its menu proposals. The FSA is proposing to carry out regular surveys of advisers to derive the effect of direct rebating on the commission figures so it can […]


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