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Home Fees Agency sets up own equity-release plan

The Nursing Home Fees Agency is offering its own equity-release service in response to demand.

It says the new NHFA Lifetime Mortgages service means it can offer younger clients and possibly their relatives the ability to stay in their homes or improve the quality of their lives by drawing down income or capital from their properties.

Advice will cover the impact that releasing equity may have on eligibility for state benefits and identifying the most appropriate scheme from its panel.

The firm is also launching a long-term care product, the Future Life Account, which is a savings vehicle linked to a Standard Life investment bond. It is a single-premium investment plan with low set-up costs, which NHFA says combines its legal and financial expertise with Red Arc&#39s independent care assessment service and the investment experience of Standard Life. Minimum investment is £10,000.

NHFA believes many care assessments are carried out too late for positive outcomes such as independent living at home and has made its eligibility criteria more liberal, with investors needing to be unable to perform only one of six activities of daily living specified to be eligible for a home visit, assessment and care plan.

Principal Philip Spiers says: “We firmly believe that financial security is an essential ingredient in providing older people with a sense of well-being and such a facility as the NHFA Lifetime Mortgages will certainly complement our existing advisory services.”


Fidelity offering £50 per account to consolidate on FundsNetwork

Fidelity is upping the ante in the fund supermarket battle for assets by offering IFAs and their clients financial incentives for re-registering investments on its platform FundsNetwork. In a move that the group says is designed to offset some of the costs of consolidation, Fidelity will pay IFAs £50 and their clients £25 for each […]

Bankhall buys NU loan club and boosts brokers by 7,000

FSA chairman Callum McCarthy has spoken out against the EU gender directive, saying it is likely to hinder the development of an efficient insurance market. McCarthy has lined up with the financial services industry which opposes the equal treatment directive. He says the directive “runs counter to good sense” and is likely to increase the […]

Brokers hit out at C&G stance on laundering

Brokers are expressing frustration at the strict interpret-ation of the money-laundering requirements adopted by Lloyds TSB subsidiary Cheltenham & Gloucester. They say C&G has started demanding much more in terms of proof of identification from prospective borrowers. Brokers say that, previously, if there was a slight discrepancy between the spelling of a name on an […]

John Cowan

Depolarisation is just the beginning of a massive realignment in the way that financial advisers do business, says Pivotal head John Cowan. He is looking ahead to how a depolarised world should be reflected in structuring the investment platform wing of the National Australia Bank where he took the reins two years ago. It is […]


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