Net fund sales plummeted by 84 per cent from April to May, leaving retail investment languishing at its lowest level since September 2002, according to the IMA. Its monthly figures reveal that overall retail sales slumped from £801m in April to £126m in May while Isa sales dropped more than 65 per cent from £587m to £167m. The IMA blames the falls on significantly increased repurchases.
Type: Discounted-rate mortgage Discounted term: Three years Discount: 1.7% Payable rate: 4.84% Minimum loan: £15,001 Maximum loan: Up to 95% of valuation subject to a maximum of £999,999 Income multiples: Up to 3.5 times principal income plus second or 2.75 times joint Arrangement fee: None Redemption fee: 3% of amount repaid in first three years […]
A Lincoln IFA is co-ordinating a campaign for compensation for members of the armed forces who served for over 20 years but have been refused any pension. Michael Kennedy, a sole trader from Sleaford, is a spokesman for the Combined Armed Forces Federation, a pressure group for servicemen denied pension rights. Anyone in the forces […]
Bankhall has received a minded to authorise letter from the FSA for its mortgage network, Bankhal Mortgages. Group sales director Shaun Godfrey says: “We are pleased to have received our minded to authorise letter from the FSA. A decade of experience in the regulated environment as a support services provider for IFAs has meant we […]
The Inland Revenue will be unable to close down a scheme that unlocks pensions by transferring funds to Ireland for at least a year because it would require primary legislation. The scheme relies on Revenue form PS122, which def-ines a tax treaty between the UK and the Republic of Ireland. Similar tax treaties exist bet-ween […]
The continuing fall-out from the Competition and Markets Authority’s (CMA’s) review, the rise of the private GP and digital engagement will be the primary focuses in the private healthcare industry during 2015, according to Iain Laws, managing director, healthcare and group risk, at Jelf Employee Benefits.
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Providers are reviewing their marketing packages to advisers at conferences and on websites amid concerns they will fall foul of new inducement rules under Mifid II. Mifid II, which came into force on 3 January, brought in more stringent rules around “non-monetary benefits” from providers to advisers. The rules have been translated into the FCA conduct of […]
A misleading headline rate of unemployment means opportunities are being overlooked by investors
The FSCS is budgeting an extra £3.5m to cover the cost of running the scheme this year. The management expenses levy, which is used to cover the cost of administering the scheme separately from any compensation payments made, proposed for 2018/19 by the FSCS today is £77.7 million, up 5 per cent on the previous […]