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Furness BS launches five-year fix through PMS and Sesame

Furness Building Society has launched a 3.85 per cent five-year fixed rate exclusive for PMS and Sesame members.

The product, which is available up to 75 per cent loan-to-value and for a £500 fee, includes a free valuation and free legal service for remortgage customers.

The maximum loan is £500,000 and borrowers are allowed to overpay by up to 10 per cent during the fixed rate period.

PMS senior product and communications manager Robert McCoy says: “Long-term fixed rates, such as this, have never been so low. With such a large number of clients looking for the security of a fixed rate, I am sure this will be popular with our members. This product complements the current three-year fixed rate product the members have access to already.”


Sanlam acquires client bank of London-based adviser firm

Sanlam Private Wealth has acquired the client bank of London Asset Management. LAM has £44m in assets and over 1,000 clients based in London, Home Counties and Devon. No LAM staff will join Sanlam. The fee paid by Sanlam is undisclosed, LAM clients will now be advised by Sanlam’s Financial Planners while LAM chairman Richard […]

Werth to step down at Ageas

Ageas Protect managing director Martin Werth is stepping down from the role at the end of the year. Operations director Darren Spriggs will become acting managing director from January 1. Ageas Protect has started looking for a permanent replacement. Werth, who is leaving the insurer after five years to pursue fresh challenges, oversaw the launch […]

Advisers welcome new Dif guidance

Advisers have welcomed the FSA’s guidance on distributor-influenced funds, which aims to manage conflicts of interest associated with the products. The guidance this week says firms that advise on Difs after the RDR should not get a share of the annual management charge for their role on a Dif governance committee and adviser charges should […]

M&G and Schroders see opportunities in Chinese property

Leading fund managers at M&G and Schroders say they are both positive on parts of the Chinese property market despite concerns of a bubble in the asset class. M&G bond manager Michael Riddell says that there is not a property bubble across the whole of China, while Schroders property manager Jim Rehlaender has been adding […]

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Preparing for the changes to the pensions market

As more and more providers start to reveal their stance on the charge cap and removal of commission and active member discount pricing, we thought it would be worthwhile to look at what these are, and the steps businesses should be taking to prepare for this.


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