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House prices on the up again, says Nationwide

House prices increased by 1.3 per cent in September, bringing the annual rate to 8.2 per cent, according to Nationwide.

It says strong demand from landlords has helped support the market

Nationwide group economist Fionnuala Earley says: “Just like the weather, the housing market was unseasonably warm in September as August’s interest rate hike did nothing to cool the rate of house price inflation.

“A weak patch this time last year, when prices fell by 0.2 per cent, exaggerates the annual increase, but the more recent three-month-on-three-month series still shows a clear pick up in price growth since July. The price of a typical house is now £169,413, almost £13,000 more than at this time last year and the equivalent of a rise of more than £35 per day over the last 12 months.”


Vertex in acquisition talks with Trigold

Vertex is understood to be in acquisition talks with several companies, including mortgage sourcing system Trigold. Capita and Mortgage Brain are also understood to be in the running for Trigold, which industry insiders value at about £20m. Trigold chief executive Bill Safran declined to comment on the rumours but admits he would obviously push for […]

Aifa and FSPP welcome FSA paper

Aifa and the Financial Services Practitioner Panel have both welcomed the FSA’s discussion paper clarifying the responsibilities of providers and distributors.The discussion paper calls on providers to design products with greater care, provide higher quality information, monitor distribution channels more effectively at a high level and undertake better post-sale analysis of product performance.Aifa director general […]

‘US making a mockery of CFP’

UK financial planners fear that American proposals to change standards will tarnish qualification

Watch out for DB exit ‘bribes’

IFAs must beware of advising clients on “bribes” offered by employers to leave final-salary pension schemes. Syndaxi Financial Planning managing director Robert Reid says firms are effectively trying to bribe staff to quit schemes by offering payouts. He says staff would be worse off and urges the FSA to investigate if employers are carrying out […]


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