View more on these topics

Hamptons and Towry Law in deal to build on Sipp changes

Hamptons International Mortgages and Towry Law are in talks over an introducer relationship that will see the two firms exchanging mortgage and Sipp-inspired business.

In a move described as an equal partnership between the two firms, the deal, which is expected to be finalised in the next few weeks, aims to capitalise on Sipp investment in residential properties.

Towry Law says it decided to seek a partner after realising it was unable to get critical mass in the mortgage sector for it to be a viable proposition within the company structure.

Towry Law’s interim results released on August 24 repor- ted profits of 1.6m compared with a 0.1m loss in the first half of 2004. In November 2004, the group cut its salesforce to around 160 advisers.

The link-up will be the second high-profile introducer arrangement between a mortgage and IFA firm. In June, John Charcol signed a strat- egic agreement with Hargreaves Lansdown.

Towry Law group managing director John Simmonds says: “The cultural nature of the two businesses is a natural fit. We have both been looking for an equal partner with the same values, reputation and brand awareness.”

Hamptons managing director Kevin Duffy says: “Towry Law made a strategic decision to simplify its business and we are keen to create a strategic alliance beneficial to both in this new and exciting field.”


A new approach on HIV

ABI statement of best practice Aegon head of underwriting & claims Matt Rann outlines imminent changes to applications

Cofunds passes the £5bn mark

Cofunds has passed the £5bn mark in assets under administration, representing a 40 per cent increase in assets in the first eight months of the year. Cofunds started the year with £3.5bn and its life and pension tie-up with Legal & General is set to go live towards the end of the year.

Society blundered in cashback fiasco

Loughborough Building Society has withdrawn a mortgage that could have cost it dearly with 10,000 cashbacks being offered to borrowers. The variable rate deal of 6.1 per cent offered 7 per cent cashback up to 10,000 with no early redemption charge on the mortgage. Customers with equity in their homes could haved remortgaged and repaid […]

‘How to…audit your auto-enrolment scheme compliance’

Avoid pension penalties with our auto-enrolment checklist

According to the Pensions Regulator’s annual commentary and analysis report released this month, 785 potential non-compliance cases were referred for investigation, with 23 auto-enrolment compliance notices issued. And they predict that the use of their statutory powers is only going to increase.


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm