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L&G rolls out equity release product to all IFAs

Legal & General is now marketing its equity release mortgage to all IFAs, as the lender sees the product as a growth market for 2003.

The product, that had formerly only been marketed to a limited number of IFAs, has a fixed interest rate of 7.3 per cent for the life of the mortgage.

L&G director of sales and marketing Claire Edington says: “Equity release provides a major opportunity for IFAs in 2003. With this equity release mortgage they can be sure their customers have access to a plan with all the appropriate safeguards.”


Raymond James targets IFAs

Online stockbroker Raymond James Investment Services has created a self-invested personal pension (Sipp) which enables advisers to establish and manage their clients portfolios online.This full Sipp provides access to all investments that the Inland Revenue allows for Sipps, except commercial property. It has a low minimum investment of £1,000 for a lump sum or monthly […]

&#39Prudent&#39 Britannic suspends bonus payments

Britannic is to suspend with-profits bonuses and shareholder dividends inan emergency action brought on by a third year of falling equity markets.The news comes as the CBI warns that financial services companies relianton stockmarket performance might have to shed ten of thousands of jobs.Britannic Group managing director Bryan Portman says its with-profits fundhas not breached […]

IFAs and investors disagree on markets

Almost three-quarters of IFAs believe the stockmarket will be higher in six months&#39 time, according to JPMorgan Fleming. The fund manager&#39s confidence survey, conducted last month, found that 72 per cent of IFAs believe the stockmarket will be higher in June. But in a separate survey, JPMorgan found that just 23 per cent of investors […]

Remortgages keep the market buoyant

The housing market stayed buoyant in November last year, with gross lendingleaping to £20.5bn from £15.3bn at the same time in 2001,according to latest figures from the Council of Mortgage Lenders.But the figures show a fall from £21bn in October and the CML says thestrong market was maintained by high levels of remortgaging.Remortgaging in November […]


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