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EU commission ban proposal overturned

The Association of Finance Brokers and Association of Mortgage Intermediaries have claimed victory in securing an amendment to the European consumer credit directive which would have banned commission.

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Pada launches consultation paper on charging for personal accounts

The personal accounts delivery authority launched its consultation on choosing a charging structure to pay for personal accounts today.The consultation paper outlines a number of ways charges could be deducted including an annual management charge, a contribution charge and a joining charge.But Pada identified the fact that different charging structures favour different potential members depending […]

Standard Life announces extra £800m of with-profits bonuses

Standard Life has announced that an estimated £800m of bonuses will be added to its with-profits plans in 2008.Its with-profits bonus declaration states that bonus growth rates for unitised with-profits bonds will increase from 2 to 2.5 per cent per annum and from 1.5 to 2.0 per cent for other life plans.Standard Life says where […]

Paragon shareholders vote in favour of rights issue

Paragon has confirmed that its shareholders have voted unanimously in favour of its proposed rights issue at its Extraordinary General Meeting today.The buy-to-let specialist lender had announced to the stock market in November that it would have to do an emergency rights issue as a result of funding problems caused by the credit crunch.It has […]

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