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IFA David Aaron calls for Tessa switch

IFA David Aaron Partnership is calling on investors with maturing TESSA investments to consider switching with profit bonds if they want a higher return on their investments.

They claim many investors are losing out on valuable income by allowing the matured lump sums from the TESSAs to be put into low interest earning deposit accounts by banks and building societies.

Investors should instead transfer the initial capital they invested into a tax free TESSA ISA or consider other alternatives says the IFA.

Senior partner David Aaron says: "The advantage of profits bonds is that you are getting steady returns currently of between 6 and 7% per year and the security of a strong life office such as Standard Life or Liverpool Victoria."


Pep restrictions to be relaxed

The Pep regulations are to be relaxed to bring them in line with Isas, as part of Gordon Brown’s ‘Helping People to Save’ initiative. The changes, which were announced in the pre-budget report, will scrap the distinctions between general and single company Peps, allowing investors to merge their Peps. Geographical restrictions will also be abolished, […]

Private Label launches mainstream mortgage

Costs associated with buying a home such as legal fees and stamp duty are slowing down the housing market, according to Private Label. The mortgage packager is launching a mainstream discount mortgage which allows house buying costs to be added to the loan up to a maximum of 105 per cent LTV with no MIG […]

Government to raise MIG for pensioners

The Government is raising the minimum income guarantee for pensioners by £14 a week to £92.15 from £78.45 from April 2001. This means an extra £700 a year for some of the poorest pensioners. When the Government’s new integrated tax and benefits system comes into effect in April 2003, the minimum income guarantee will rise […]

Friends in ethical stakeholder deal

Friends Provident is joining forces with IFA Holden Meehan to launch what it believes is the first ethical stakeholderstyle pension.There are no initial charges. Flexible contributions can be paid at any time with the minimum regular contribution of £20 and the facility to accept payments from other approved pension arrangements.Holden Meehan says the New Generation […]


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