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Lifestyles dictating demand for loans

Flexible loans are proving popular because of the changes in UK consumers&#39

lifestyles, according to Yorkshire Building Society.

Yorkshire says changes in working practices mean that over 50 per cent of

its loan applications are for flexible products.

The society set up its flexible mortgage last November and says the quick

take-up is due to demand among consumers for more flexible products.

Yorkshire says figures from the National Office of Statistics highlight

why demand is changing.

The figures show the number of self-employed people has increased by 60

per cent to 3.25 million in 1998 from 1.8 million in 1979.

The amount of women returning to work within a year of having a baby has

trebled to 845,000 in 1998 from 587,000 in 1992.


IFAs get a line on The Exchange

The Exchange is offering IFAs free ISDN installation and WAP mobile phonehandsets in a move it says will speed up its quotation service. The companysays the ISDN connections will give intermediaries faster access to productquotations, business services and financial strength research through itsExweb service.The offer is running alongside The Exchange&#39s WAP launch to consumerswhich will […]

Portman Building Society…

Portman Building Society has raised £13,500 for Macmillan Cancer Reliefwith its 2000 Calendar Charity Appeal.A total of £27,000 was raised through donations from Portman members. Theother £13,500 has been split between 14 charities in the society&#39s mainoperating area.Portman chief executive Robert Sharpe says: “I hope that this will helpMacmillan Cancer Relief meet the obj-ectives of […]

Review work at a halt as FSA delay drags on

IFA networks are complaining that they have departments sitting idlebecause the FSA is making them wait a year for a pension reviewrecalculation.The regulator withdrew a formula relating to some transfers in phase twoof the pension review last autumn, saying it was wrong.Industry sources say they were led to believe that the correct formulawould be issued […]

Sales staff say they stand to lose out

Royal London&#39s salesforce is claiming that United Assurance&#39s salesforceis getting preferential treatment on redundancy packages.An MSF union spokesman says the Royal London management has intimated thatproposed voluntary redundancies would only be offered to United Assurancestaff.But Royal denies it has said anything of the kind. It is making a takeoverbid for United.It has already told its […]


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