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Labour may link MPPI with benefits system

The Government&#39s Green Paper on housing is looking at integrating mortgage

payment protection insurance and the benefits system.

The CML welcomes the paper but says IFAs should not take this as a signal

to sell MPPI to lower-income groups. The CML says some low- income

individuals may have alternative protection provided by the state to

prevent them falling behind on loan repayments, which could make MPPI

unnecessary, and it says independent advisers must work towards tailored


The trade body says the Government&#39s goal of providing greater help for

people on lower incomes to buy a home is to be welcomed, particularly as

there are measures to promote more sustainable homeownership and to

reinforce the safety net for borrowers taking on a loan.

Communications manager Bernard Clarke says: “It is early days to say

whether it is good news for brokers or lenders.”


Rapid in equity swap for C5 ads

Online insurance intermediary Rapid Insure has done a ground-breaking dealin swapping equity for advertising time on Channel 5.Rapid, which offers life and general insurance products, has linked upwith Channel 5 for a high-prof ile advertising campaign on the channel&#39sweather programmes.As part of the deal, Channel 5 has taken an 8 per cent stake in thecompany […]

Off with the new, on with the old

The new economy stocks have had a rough ride and last week&#39s legal rulingagainst Microsoft sent the Nasdaq tumbling by 15 per cent in just onemorning session. The Techmark index has seen a 30 per cent fall from itshigh this year while European technology stocks have also suffered fromsevere volatility.In spite of tumbling prices, yields […]

Brokers show loan optimism

More than half of brokers are optimistic the mortgage market will improvein the next quarter, according to research by the Mortgage Business.Currently, 54 per cent of brokers are optimistic that business willimprove in the next quarter.Brokers have reported significant increases this quarter in sales ofself-employed and flexible mortgages, with 38 per cent having seen anupturn […]

Franchise without tears

Phrases can sometimes conjure up, on second reading, a differentimpression from the one they made at first sight.When Allied Dunbar launched its franchising proposition last May, theannounce ment included a statement which said: “In the event of a client&#39sneeds [being] best met by a product other than an Allied Dunbar one, theadviser can introduce other […]


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