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GE reduces lifetime loan rates

GE Life is upping the ante in the equity-release rate war, unveiling improved rates on its lifetime mortgage offering and calling for greater transparency in the market.

The firm is reducing its ann-ual lifetime mortgage rate from 6.25 per cent to 5.89 per cent.

The firm is also calling for the lifetime mortgage sector to compound interest rates ann- ually instead of monthly, saying that monthly calculations claim a lower headline rate which can mislead customers.

Marketing and product manager Simon Little says its 5.89 per cent annual rate on a typ- ical 15-year loan of 76,000 could be marketed as a headline rate of 5.74 per cent a year if written as a monthly compounded figure.

Little says: “With market rates continuing to remain affordable, there is no excuse for other lifetime mortgage providers not passing on these favourable rates. There is no reason why providers should not show an APR. In this market, APR is king.”


Slick performance

The best-performing sector of 2005 is oil and resources and funds which failed to fill their tanks have under- performed, says Hargreaves Lansdown head of research Mark Dampier

Pressure is growing over spring deadline

The Government faces a tight self-imposed deadline of next spring to respond formally to Turner and is coming under strong pressure from the opposition to stick to its timetable. Work and Pensions Secretary John Hutton told the House of Commons that the Government welcomes the broad framework of the report and insists it has ruled […]

Get with the program

In today’s world of video i-pods and self-service check-in at airports, we have the ability to download or buy nearly anything through a computer.

Turner turning the screw on industry

The Pensions Commission’s final report is a disaster for the financial services industry and would force product providers into deeper cost cuts than the introduction of stakeholder and drive IFAs out of the equation. Advisers and life offices have lined up to slam the proposals which were released on Tuesday by commission chairman Adair Turner. […]

Leading Edge – April 2017

There is little doubt 2017 will be a year of political uncertainty. Leading Edge is Royal London Asset Management’s regular review of investment markets. This edition explores some of the impacts that this uncertainty is having on investors, from the pitfalls of prediction within UK equity investing to the dangers of opting for convenience over […]


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