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FSCS offers Keydata advisers 50% discount deal

The Financial Services Compensation Scheme has offered Keydata distributors facing claims of less than £50,000 a 50 per cent early settlement discount. In its latest FSCS outlook, published in January, the FSCS said the adviser sub-class will foot the legal bill for pursuing IFAs who sold Keydata products, while any recoveries will be paid back to fund management groups.

Arch Financial Planning managing director Arthur Childs, who has one claim against him, has received the FSCS letter. He says: “I would expect most people with a small claim will accept this offer. Nobody wants the uncertainty of a court case.”


Widows plans enhanced annuity and will look at equity release

Scottish Widows will offer an enhanced annuity as part of its forthcoming mid-market annuity suite and may look to launch equity release and long-term care products dependent on Government reforms. Last week, the company announced its intention to return to the IFA annuity and protection sectors. In an interview with Money Marketing, Scottish Widows chief […]


Annuity service for small pots

Helm Godfrey is offering an annuity advice service for people with small pension pots. The adviser firm’s iRetire service offers customers with pension pots of £20,000 or more advice on their retirement options. Helm Godfrey has also partnered with MorganAsh, which will provide an enhanced annuity shopping-around service to iRetire customers. Managing director Graham Cross […]

Niche work if you can get it

Brokers say Santander’s decision to cap all interest-only lending at 50 per cent loan to value could be the trigger that sees the product return to a niche status. The lender, which has historically had a relatively lenient interest-only criteria compared with other main high-street lenders, said last week it is capping interest-only lending at […]


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