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HSBC launches LTC service

HSBC is launching a comprehensive long term care advice service, providing customers with specialist advice on funding immediate and future LTC needs.

Since HSBC has acquired the Nursing Homes Fees Agency, it ensures the bank can provide customers with a unique service offering free and fully qualified financial and legal advice on all aspects of LTC, including care available in the customer’s local area of residence, State benefits available to customers, obligations of local and health authorities specific to the customer’s location different options available for self-funders and a free helpline for customers facing the problem of choosing and paying for care for themselves or a relative.

HSBC senior manager, retirement services Richard Barker says: “HSBC identified that long-term care is a specialist area that needs dedicated advice. A view also shared by the OFT in a market study last year, in which they expressed concern about the lack of awareness and information available to people with long-term care requirements.

“The NHFA have a 60 per cent share in the long-term care market and specialist knowledge of the complexities of local and health authority charging and assessment procedures, State benefits and legal matters.

By offering their services through HSBC branches, we can ensure our customers get the best advice from fully qualified advisers in what can be a potentially high risk financial arena.”


Genworth product ‘will help FTBs’

Insurer Genworth Financial claims lenders will be able to help more first-time buyers get on the property ladder after the launch of its specialist mortgage insurance product. Genworth says the product will help mitigate the considerable risk associated with 100 per cent loan-to-value lending by covering lenders’ risk.

Price of freedom

New FSA rules allow unit trusts and Oeics to be singleor dual-priced. The rules, which came into force earlier this month, effectively allow unit trusts to continue to use either pricing method at the same time as introducing dual-pricing for Oeics.

Standard defends Sipp commission

Standard Life has defended claims that it is paying up to 5 per cent commission on internal transfers from its personal pension to its Sipp as a means to grow its Sipp business, saying it is merely offering the same rate it would on outside business coming into its Sipp.

Zopa has signed up 1,000 users

Online consumer lending portal Zopa has signed up over 100,000 users since its inception in March 2005.


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