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Endowment defenders

Endowment mortgages have been defended by two leading providers.

The moves follow the widely-reported misselling scandal surrounding the investment schemes forcing many savers to top up their schemes.

Standard Life marketing manager John Hylands says: “Endowments still have a place and they have made up 10 per cent of our mortgage business last year. The anti-endowment sentiment in the media has probably gone a bit far.”

A Scottish Widows spokesperson says: “We regularly review the ability of endowments policies to meet the returns projected at outset, to date they have not highlighted any issues on the ability of policies to repay mortgages.”


Stakeholder blight fear

The pensions industry should brace itself for another scandal in the wake of the stakeholder launch, according to IFA Torquil Clark.Wolverhampton-based Clark claims many pension providers are advising investors they will not lose out if they decide to open a personal pension now and transfer it to a stakeholder scheme at its April 2001 launch.Investors […]

Guardian Employee Benefits Employee Protection Menu

Guardian Employee Benefits has introduced the Employee Protection Menu, a web based employee benefits product which it claims will revolutionize the employee benefits market for IFAs targeting small-to medium-sized firms.Employee Protection Menu features five different menus which offer employees and their spouses or partners a combination of life assurance, income protection and critical illness cover […]

SLI bid for nervous investors

Scottish Life International hopes to allay the fears of nervous technology stock investors with a fund .SLI is hoping will win over shy investors looking to get a piece of the high technology sector&#39s action by offering “peace of mind.”The quarterly rolling fund gives 95 per cent capital protection, guaranteeing not to lose more […]

Skipton picks up CGU mortgages

Skipton Building Society is acquiring the mortgage portfolio of insurer CGU.The deal will bring £150m assets under the remit of its wholly-owned subsidiary Skipton Mortgages which specialises in buying mortgage files from other lenders.The acquisition prompted Skipton to reassure thousands of worried borrowers the terms of their mortgage deals will be honoured.Skipton spokesperson Mark Smitheringale […]


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