Repossessions in London have increased to their highest levels in 10 years according to data from the Department of Constitutional Affairs, the Council of Mortgage Lenders and Fitch Ratings. London’s repo rate is now around double that of the North.
GMAC-RFC claims its 2006 lending was five times the market rate of growth and says it believes this to be the strongest growth of any major lender last year.It says its pre-audit lending for 2006 is £12.1bn which represents 75 per cent year-on-year growth.But John Charcol senior technical adviser Ray Boulger believes the lender has […]
There is continuing concern the Government’s economic and fiscal polices are deterring people from saving, according to the ABI’s latest survey of senior executives.The quarterly ABI/Populus survey of the insurance industry found 37 per cent of executives believed Government policy initiatives were having a negative effect on the personal savings market and only 8 per […]
Jardine Lloyd Thompson has introduced a group self-invested personal pension and predicts that other major pension providers will follow suit.The Sipp will be positioned alongside JLT’s occupational pension scheme and provide access to 1,500 funds through Fundsdirect. Employees will be able to invest in property and unlisted shares by activating the “true Sipp” option.The scheme […]
Alliance Trust has won a £1.95m grant from the Scottish Executive that will support its plans to expand its pensions, asset management and investment dealing businesses over the next three years. The grant will support plans to create a further 160 new jobs in Dundee and build a large, modern headquarters in the centre of […]
As part of the Budget speech, the chancellor announced the launch of a formal consultation on the structure of UK pensions tax reliefs.
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The curious goings-on in the world of financial services
Experts have played down any immediate moves from the FCA towards those firms that are not prepared for Mifid II regulation that comes into force on 3 January 2018. However, concerns remain that a “material number” of small asset managers have not yet started preparing for the major European regulation. The FCA expects firms to […]
OMGI chief executive and star fund manager Richard Buxton is set to lead a management buyout of the single-strategy funds division of Old Mutual Wealth with the backing of TA Associates. The £550m deal is set to be announced before Christmas, Sky News reports. The buyout is part of Old Mutual’s managed separation, which is […]