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Lifemark investors form £50K+ action group

Lifemark investors with more than £50,000 in the life settlement investment vehicle have formed a new action group to try to recover as much compensation as possible.

The Lifemark £50K+ Investor’s Group will collect the names of members who do not expect to be fully compensated by the Financvial Services Compensation Scheme, which confirmed in November it will fully compensate Keydata Lifemark investors up to £48,000.

The group’s creator, Peter Hilton, says members of the group will include people with more than £50,000 invested, people who did not invest via Keydata and are therefore not covered by the FSCS scheme and people whose FSCS claim has been rejected.

The group will be used as a communication forum while the Lifemark rescue is underway and as a means of establishing support for alternative action if the rescue fails.

Click here to visit the group’s website.


Norwich & Peterborough BS increases LTVs

Norwich & Peterborough Building Society has increased the loan-to-value on a number of its discount rate mortgages to 85 per cent. The society has increased the LTV from 75 per cent to 85 per cent on its two-year discounted variable rate mortgage at 2.59 per cent and from 80 per cent to 85 per cent […]

Lloyds offers negative equity mortgage deal

Brokers have welcomed a scheme from Lloyds Banking Group that helps borrowers in negative equity move home. The scheme, which is available to existing mortgage customers, allows those in negative equity to borrow up to 120 per cent loan to value to move. If a borrower wants to move to a property worth more than […]

L&C cuts TER for graded funds

Discretionary fund manager London & Capital has reduced the total expense ratio across its 10 risk-graded managed portfolios by an average of 0.5 per cent.


Aviva freezes annual with-profit bonus payments

Aviva has held the annual bonus rates for its 2 million with-profits customers following a 12 per cent increase in the value of its main fund. Annual bonus rates for new business bonds will remain at 2.75 per cent. New pensions bonus rates have also been frozen at 3.25 per cent. Regular bonus rates for […]


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