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Highest ever compensation award for breach of mortgage code

An intermediary is being ordered by the Mortgage Code Compliance Board to pay compensation of £66,300 to a client, the biggest ever pay-out to date for a breach of the mortgage code. The MCCB has not named the broker who the mortgage code arbitration scheme says did not give suitable advice or exercise due care when selling an equity-release mortgage. It decided the intermediary did not ensure the client understood the arrangements being made.

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AIG LIfe offers low-cost trustee bond

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Investec loses top fund manager

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Zurich International Life – International Wealth Account

Wednesday, 31 July 2002Type: Single premium unit-linked bond Aim: Growth by investing in unit trusts, Oeics and fund of funds Minimum investment: Lump sum £40,000 Place of registration: Isle of Man Investment split: 100% in unit trusts, Oeics and fund of funds Isa link: No Charges: Initial &#45 structure A up to 2%, structure B […]

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