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Halifax set to make equityrelease debut

Halifax is believed to be planning a launch into equity release in the next three to four months.

Money Marketing understands that the UK&#39s biggest lender is likely to move into the rapidly expanding market in the next few months, marking the first time a member of the HBOS group has made a foray into equity release.

Halifax would follow other recent entrants including Standard Life Bank, which launched a product last November, and Mortgage Express, which entered the market last October.

IFAs say they would welcome the entrance into the market of a player such as Halifax as greater competition would benefit advisers and consumers by driving down prices and costs.

Halifax senior press officer Paul Fincham says: “We have a watching brief on equity release at the moment. We are looking at the market but there is no likelihood of us doing anything very soon.”

Hargreaves Lansdown head of mortgages Ian Jordan says: “The entrance of Halifax into the equity-release market would be good for the industry as it would provide more competition and help drive down prices. There are more and more lenders coming into this market and my view is the more the merrier.”


Standard stand-off leads to mutual review

Standard Life is taking the first step down the road to demutualisation after six weeks of bruising negotiations with the FSA over its financial strength, with a recommendation of whe-ther it should float expected by the summer. In a shock move which sees Standard chief executive Iain Lumsden stepping down to make way for Standard […]

Unipass bringing in charges for portals

Unipass is to introduce charges of up to £100,000 for IFA portals and product providers using its digital certificate system this year. Standards body Origo, which runs Unipass, is introducing the charges to cover future costs. Until now, providers have acted as sponsors for the system, paying £50,000 each annually to cover the running costs. […]

Halifax revamp &#39too complex&#39

Halifax&#39s newly relaunched core variable mortgage range has met with little enthusiasm from mortgage brokers who say it is over-complicated. The new range includes products for first-time buyers, homemovers and people looking to remortgage. Halifax says the revamp is all about choice, so movers can choose a low headline tracker rate with fees, a higher […]

Thames River Capital – Thames River Hedge +

Type: Closed-ended fund of hedge funds Aim: Growth by investing in hedge funds and related investments Minimum investment: Lump sum £3,500 Place of registration: Guernsey Investment split: Distressed 19%, multi-strategy 18%, equity hedge US 17%, merger arbitrage 10%, equity hedge global 9%, fixed income arbitrage 8%, convertible arbitrage 4%, credit 4%, trading 4% Charges: Initial […]


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