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Edeus reassures market that its funding is secure

Edeus has told Money Marketing that its funding lines are secure stating that its 24 month contract with Merrill Lynch is not up for renegotiation until October 2008.

Investment bank Merrill Lynch also owns a stake in Edeus parent company Oakwood Group.

Edeus managing director Alan Cleary says that it had a meeting with Merrill Lynch last week regarding the current market situation.

He says: “The market isn’t functioning at the moment which means that every lender has to reassess their position. We will definitely be putting through criteria and rate changes and we’re just in the position of reviewing our position at the moment.”

“This is likely to be product driven rather than criteria. We believe this is going to be a three to six month issue so we won’t be making big changes to our criteria and then have to change it again when the market settles. What you can’t be is a lender of last resort and we have no intention of being that.”


FSA appeal could shed further light on Lautro injustice

The FSA announced last week it would be calling its expensive lawyers into action to battle against the Information Commissioner’s decision to force it to reveal the names of 12 providers who misused Lautro projections.

Royal Liver plans new look for with-profits

Royal Liver is to launch a new-style with-profits investment product in the new year.It has over three million with-profits policies on its books but says interest in traditional WP funds has dried up. Chief executive Steve Burnett says investors are still attracted to stockmarket-linked investments that offer smoothing.He says: “We have stopped making old-style with-profits […]

Tax year-end planning with the family

From the Technical team at Prudential Let’s face it, many aspects of financial planning involve a lot of technical detail. At our face-to-face events, we’ve had great success bringing these technical topics to life through the use of practical case studies. Meet the family Prudential’s Planning Matters hub brings together a fictional family and explores […]


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