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IFAs can&#39t be trusted – new survey

IFAs are less trustworthy than estate agents and bookies – according to a new survey by The Motley Fool internet website.

An IFA&#39s impartiality and ability to give independent help is generally compromised by the levels of commissions they get paid, according to about 60 per cent of the 1,000 people asked in the survey.

A lowly 28 per cent believe IFAs can offer unbiased investment advice.


Leek pours cold water on windfall promises

Leek United Building Society has attacked suggestions carpetbaggers will be rewarded with windfalls of up to £950 if a takeover bid by Murray Financial is successful.Society chief executive Neil McFadden says it is impossible to predict payment levels with any accuracy and has slammed windfall figures of between £475 and £950 being touted as misleading.Murray […]

Halifax and Nationwide push up mortgage rates

Following on from Abbey National, Halifax and Nationwide have announces they are also raising their standard variable mortgage rate by 0.25 per cent. The Halifax rate will rise to 7.24 per cent from 6.9 per cent with immediate effect for new customers and from December 1 for existing borrowers.Nationwide has pushed up its rate to […]

Mortgage mis-selling blamed on high commission

Thousands of homeowners could be entitled to compensation because of mortgage mis-selling, according to the Personal Investment Authority.PIA ombudsman Tony Holland said endowment mortgages were riskier than capital repayment mortgages, and it was essential that the risk was explained to borrowers.High commission payments have been blamed for fuelling much of the problem, which could leave […]

Abbey National hikes mortgage rate

Abbey National is hiking its variable mortgage rate a quarter of a percentage point to 7.24 per cent. Abbey is the first of the big lenders to raise its rates following the Bank of England&#39s decision to raise the rate 0.25 percentage points to 5.50 per cent on Thursday.The Abbey rise in standard variable rates […]


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