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Falcon seeks funding to expand

IFA network Falcon Group is seeking capital to expand its IFA offerings and increase its presence in the marketplace and says under the right market conditions, it would seek a stockmarket listing.

Chief executive Allan Rosengren says the firm is seeking additional funding to buy equity stakes in IFA firms and to launch an IFA services comp-any separate from the existing business.

It is also looking to refund its subordinated debt and acquire additional capital adequacy. In January 2003, Falcon was the first IFA in the UK to be granted a PI waiver and has since continued to be self-insured. In the past year, its network business has grown by around 25 firms.

Rosengren says the firm is looking to secure and develop IFA firms with a typical turnover of up to £5m.


Remortgages soar by 50% in 2003

Remortgaging was the main driver of the lending market in 2003. Figures from the Council of Mortgage Lenders show gross remortgaging leapt by 50 per cent to £120.8bn from £80.6bn in 2002 while gross lending for purchases was up by only 3 per cent to £121.8bn from £118.2bn. December was the only month in 2003 […]

Pink Home Loans makes move into commercial lending sector

Skipton Building Society subsidiary Pink Home Loans is moving into the commercial lending market. Pink Commercial will be run in association with specialist intermediary lender Commercial First. The service will offer loans to borrowers who find it difficult to get funding from banks and institutional lenders, such as small businesses, the self-employed and partnerships. There […]

Mark Chilton on Mortgages

The whole industry is focusing on the impact of the last quarter of 2003, but I believe a more fundamental challenge to the independent broker, who makes up the majority of our market, will come from the introduction of the seller&#39s pack. First a few words on why these proposals are not just wrong but […]

Std Life Healthcare launches into PMI cost plus sector

Standard Life Healthcare is launching into the cost plus sector of the private medical insurance sector. Cost Plus is aimed at larger companies who have large and stable volumes of medical insurance claims and want an alternative to a fully insured scheme. With cost plus, the company agrees a claims fund with the insurer who […]

Certification guide

Guide: how to… certify your pension scheme

Certification is highly complex and surrounded by a minefield of information and auto-enrolment jargon, which can make it very difficult to understand. However, for many employers it is a necessary process that must be executed successfully.


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