View more on these topics

Lambeth increases commission

Lambeth Building Society has changed its lending criteria and increased the commission paid to IFAs.

For every completed mortgage, IFAs can now earn the greater of £200 or 0.2 per cent.

Higher rates are available for IFAs who introduce bulk amounts of mortgage business to the Lambeth.

Lambeth says it recognises the loss of income to IFAs resulting from the dramatic fall in sales of endowment policies.

It has changed its lending criteria by scrapping compulsory insurance tie- ins to all its mortgage products and allowing borrowers to pay back an extra 10 per cent of their mortgage in any 12-month period without incurring a penalty.

General manager (marketing) Jonathan Sandford says: “The Lambeth is very committed to IFAs as a channel to sell and inform our customers of our products.

“This increase in commission demonstrates how important IFAs are to us.

“The Lambeth&#39s new lending criteria are designed to widen our audience even further and provide IFAs with the opportunity to extend their client base by offering real enhancements to homebuyers.”

Recommended

Employers push for flexible retirement

IFAs could benefit from an increased demand for advice following calls for the Government to promote flexible retirement.The Employers Forum on Age, which boasts the FSA&#39s Howard Davies as its chairman, is putting pressure on the Government to remove the barriers to flexible retirement or risk increasing the skills shortage and retirement poverty gap.It wants […]

Life offices scrap their pledges on bond MVAs

Leading life offices have ditched their guarantees not to apply a market value adjuster on the 10th anniversary of their with-profit bonds due to fears they cannot afford to back them financially.The life offices dropping the guarantee include Royal & Sun Alliance and Scottish Mutual, with industry experts predicting this could set a trend.Royal & […]

Toby Strauss

Takeovers, name changes, flotation – it has been quite a year for mortgage broker John Charcol.At the helm with B&B chief executive Christopher Rodrigues et al is enthusias-tic sailor and CharcolOnline managing director Toby Strauss, an e-commerce and consulting whizz brought in toset up the broker&#39s online operation in November 1999.As a member of the […]

Julian Gibbs

One of my favourite fund management groups, Aberdeen, is shortlyto launch a Global Champions fund, which will invest in the sharesof companies whichhave profit centres throughout the world or are leaders in innovationor communication.Some of these, such as AOL/Time Warner, cover all these categories. Its share price has increased every year for the past five […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm

    Email: customerservices@moneymarketing.com