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IFAP hotline adds up to £14m to IFA commission

IFA Promotion says it generated up to £14.5m of business for IFAs and at least £6m profit for product providers last year.

IFAP says its consumer hotline brought in between £8m and £14.5m of commission for IFAs in the year to September and a record 107,680 people contacted IFAP to get contacts details of three IFAs in their area.

The figures are contained in research carried out by actuary William M Mercer. A questionnaire was sent to a sample of 15,000 consumers three months after their call to IFAP&#39s hotline to see if they had visited an IFA. More than 45 per cent said they did.

IFAP says it hopes these figures show the value for product providers exceeds the £2.5m they contribute to fund IFAP each year.

Marketing director David Elms says: “These are big numbers and this is purely from the hotline and web activity. It does not include all our other work through press clubs or our press service. The whole contribution is far higher but we are really pleased to seen the hotline generate these figures.”


UCB Home Loans launches self-certification flexible mortgage

Nationwide specialist lender UCB Homeloans is launching a flexible mortgage called FlexiPlus, aimed at the self-certification market. The FlexiPlus mortgage has a 1 per cent discount off its variable rate, currently 7.99 per cent, for the first two years and is available on 85 per cent loan to value. The product allows underpayments of up […]

Lending reaches record level as rates edge down

Mortgage lending suffered a seasonal decline around Christmas, according to figures from the Council of Mortgage Lenders and Department of Environment Transport & Regions. Gross mortgage lending by banks and building societies fell to £10bn in December from £10.9bn in November, with remortgaging down to £3bn from £3.2bn in the same period. However, overall lending […]

Exam review by end of year

The FSA has calmed IFA fears that its review of approved examinations has been put on a back burner by stating that no deadline was set for the consultation. When plans for the review were originally unveiled by FSA chairman Howard Davies in November last year, Davies said the review of financial sector exams would […]

A&L feeling confident

Alliance & Leicester is to sponsor hit TV quiz Who Wants to be a Millionaire. A&L takes over from current sponsor NTL this month in a move which marks its return to TV advertising after a two-year absence. A&L says the move is aimed at raising brand awareness.

US loan growth is not painting a pretty picture for the US economy

Written by Mike Riddell One of the current big debates in global financial markets is whether investors should believe ‘hard’ rather than ‘soft’ data, where the usually reliable business and consumer surveys have been suggesting strengthening in global growth momentum for some time now, while the economic data that feeds through into the Gross Domestic […]


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