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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.


Thomson&#39s swallows up Redcliffe

National IFA Thomson&#39s Group has taken over IFA Redcliffe Associates in adeal which takes its number of registered individuals to 100 and gives itblanket UK coverage.The companies, which will operate under the Thomson&#39s name, will have 18offices nationwide and a turnover of £15m, £11m coming from Thomson&#39s.Thomson&#39s says the deal makes it one of the […]

Merger will give TMO more clout in e-loan market

The Mortgage Operation is merging with its German equivalent, Haus &Capital, having attracted £5m in venture capital to spend on UK expansion.The move, revealed in Money Marketing in February, has given birth toCreditweb, a pan-European e-commerce mortgage company poised to dominatethe fight for Europe&#39s internet-based personal finance market.The merger gives Creditweb access to £19.5m in […]

Consumer&#39s view

The Government should be very concerned at the findings of a report fromconsulting actuaries Towers Perrin, which reveals all too painfully thatthe current climate of uncertainty is slowly destroying the final-salarypension scheme.The most important aspect of the survey of defined-contribution schemes isthat “in over 50 per cent of cases, defined-contribution pension schemesare introduced in connection […]


Blood on the trackers

Five years ago, pension tracker funds were only just coming on to employeebenefit consultants’ radar screens. Now, the two biggest trackers dwarftheir actively managed competitors.The BGI and Legal & General tracker funds are each bigger than the 10biggest pooled pension funds on the Caps survey added together.Moreover, indexation has become an assumed part of segregated […]


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