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Lifetime deal offers loan up to 250k

Just Retirement is offering a Ship-approved fixed lifetime mortgage that will pay a cash lump sum of up to 250,000.

The product, which was exclusively revealed by Money Marketing in February, will pay eligible homeowners a minimum lump sum of 15,000. Any house price growth bel-ongs to the homeowner but any house price contraction is absorbed by Just Retirement and will not affect the proportion of equity that the provider holds.

The deal is restricted to properties with a minimum value of 100,000 and the maximum secured equity is 75 per cent of the property value.

The typical APR for the pro-duct is 7-7.4 per cent. Commission is 1 per cent of the sum secured.


Suspended sentences for 2.5m fraudsters

Two financial advisers have been ordered to pay a total of 250,000 compensation and given suspended jail sentences for their part in a 2.5m fraud scandal in Northern Ireland.

Schroders adds cautious flavour

Schroders has added a cautious fund to the Ucits III compliant multi-manager fund range it developed with fund research and ratings agency Standard & Poors last September.

ProvMut equity ratio slashed to 10%

Norwich Union is has reduced the equity backing ratio of the Provident Mutual with-profits fund from 24 per cent to 10 per cent, saying the move is needed to meet underlying guarantees. At the same time NU is also offering Provident Mutual mortgage endowment policyholders the opportunity to take advantage of future investment returns from […]

Deutsche appoints Benkner as Global Head of Retail

Deutsche Bank has appointed Axel Benkner as global head of retail for Deutsche Asset Management (DeAM). Benkner is currently head of DWS Investments in Europe and will continue to be the head of DeAM Europe. In his new role, Benkner will asume responsibility for all of DeAMs retail businesses, including DWS and Scudder Investments, with […]


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