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Interest rates on hold again

The Bank of England&#39s Monetary Policy Committee has decided to keep interest rates at 4 per cent for the eighth month in succession.

The news comes despite widespread predictions that the housing market is close to overheating. Only today the Halifax reported there has been a 20 per cent rise in house prices in the last 12 months.

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Norwich Union enters impaired life annuity market

Norwich Union has entered the impaired life annuity market.The Norwich Union impaired life annuity option is designed to produce a higher income than standard annuities for people who suffer from a serious illness that reduces their life expectancy.Figures from Norwich Union show that a 60-year-old male who is expected to survive 10 years, with a […]

&#39£10k medical bill as insurer cancels policy&#39

An Essex IFA is outraged at the treatment a client received from niche PMI insurer Revelation Health-care after it ended his policy halfway through its one-year term.French & Associates financial consultant Roger Lloyd says the insurer offered PMI cover to his client but revoked the contract without a full explanation.The client contracted a serious illness […]

Ilog to continue IFA subsidy

The Independent Life Offices Group has confirmed it will continue its financial support of IFAs by providing an 85 per cent subsidy of IFA contributions to the Financial Services Compensation Scheme. Aifa has been in negotiations with ILOG on the issue for some time, as originally reported in Money Marketing in May. The FSCS levy […]

A consumer&#39s view

If the analysts at Schroders who are predicting that the FTSE100 will not see 6,000 again before the end of the decade are right, then IFAs could be in for some lean years. Just as well that the recent report on their finances revealed that they are generally cash-rich.Investors are on strike, not least of […]

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