GE Life has slashed its lifetime mortgage rate and has become the cheapest on the market.The company is bucking the trend in the market that has seen other providers raise their rates over recent months. Many experts had expected last week’s Bank of England base rate increase to put further pressure on insurers and lenders to increase the cost of taking out equity-release products. GE’s rate, compounded annually, has come down from 6.09 per cent to 5.95 per cent. The next cheapest on a comparable basis is Just Retirement at 5.99 per cent, followed by Standard Life Bank at 6.06 per cent. The fact that GE compounds its rates annually has come in for praise from some commentators. Equity-release specialist Rozario Harris managing director Andrea Rozario says: “GE has a damn good rate and it is a true rate. I have a bugbear with some rates that are not compounded ann-ually as it is not transparent.” GE Life marketing and product manager Simon Little says: “We feel that we have the capacity to lower our rates and provide value for equity-release customers. We have looked at our business and we can afford this, even with what else is going on in the market.” Data released by the Council of Mortgage Lenders shows that in the first half of this year, the number of new equity-release mortgages increased from 10,877 to 11,130 compared with the same period last year.
Legal & General Investment Management is looking at expanding its range of actively managed funds with the launch of strategic bond, high-alpha and hedge fund products. The news comes in the same week that L&G IM ditched its European equities team of four, headed by Alia Baig, and moved its underperforming 156m European fund to […]
Many investors are questioning whether corporate bonds are still an attractive investment, with global interest rates rising and credit spreads close to historical lows. Significant changes in the market over the last 10 to 15 years mean the answer is not as black and white as it may have been a decade ago.
Brokers say that specialist mortgages can improve impaired credit profiles, according to Alliance & Leicester Mortgages.Four in five brokers – 80 per cent – believe the sub-prime market will continue to grow in the next two years with 19 per cent thinking it could increase by more than 20 per cent.A&L research has revealed that […]
Thinc Destini has set up six buy-to-let seminars as it anticipates continuing growth of the market. The firm is encouraging advisers to bring their clients to the two-hour free seminars. Topics covered include Why Invest in BTL? and The Role Of The Landlord.
Matt Shafer, Head of International Distribution, discusses the firm’s philosophy around Durable Portfolio Construction, particularly the importance of putting risk first, thinking about better ways to use traditional asset classes and how to position alternatives in portfolios.
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As the outlook for the UK’s economy remains uncertain, how can advisers prepare portfolios for any change in inflation? As higher inflation fails to appear on the horizon and wages grow faster than expected, fund managers are weighing up their portfolio moves for any potential changes in the economy. The UK consumer prices index rose […]
IFA directors Kevin and Cheryl Neal have been banned from being company directors by the Insolvency Service for six and four years, respectively. The married couple ran the now-defunct Hertfordshire-based Kevin Neal Associates Wealth Management. They were disqualified for taking assets from an insolvent company. The firm had been incorporated to take over the business interests […]
Hartley Pensions has bought the “untainted” assets of the Lifetime Sipp Company, which went into administration earlier this year. An update published today on the website of Lifetime’s administrators Kingston Smith & Partners says Hartley Pensions has also agreed to administer the tainted Sipps held by Lifetime Sipp. The administrator described tainted assets as those where […]