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Mortgage agreements in principle will be necessary for offer

Legal & General is expecting lenders to offer mortgage agreements in principle as standard market practice when the Homes Bill comes into force in 2003.

L&G believes buyers without agreements in principle will be excluded from making offers for homes under the terms of the Homes Bill, which allows sellers to refuse to provide sellers packs to people they believe are unlikely to have sufficient means to buy a property.

L&G research shows 86 per cent of homeowners expect people viewing their home to have checked out their ability get a mortgage before making an offer.


Warning of stakeholder killing AVCs

The new partial concurrency rules under stakeholder could spell the end of the additional voluntary contributions market, says Punter Southall & Co. A survey of the UK&#39s top 350 companies recently conducted by the consulting actuaries shows 85 per cent of eligible employees will consider using stakeholder as an alternative to AVCs. Under stakeholder rules, […]


It should be the bonanza of all times but, with such apathy in the market, it makes you wonder whether the end of the tax year might be a damp squib. There are so many opportunities for us to do heaps of business but perhaps there is too much choice. First, there is the end […]

New brand from merger of Capel and Greig Middleton

Fund manager Capel Cure Sharp is rebranding as Gerrard Investment Funds as part of the ongoing merger of Old Mutual&#39s private client investment subsidiaries. The move will see Capel Cure Sharp and Greig Middleton & Co merged to create Gerrard. Advertising to promote the new brand will start in May with a series of ads […]

IFAs point to big gaps between annuity rates

IFAs are claiming that just 10 of the 40 or so annuity providers offer competitive rates, products and services. The IFAs, including The Annuity Bureau and Carrington Consultants, say there is a gap of about 25 per cent between the best and worst rates offered in the market. While they acknowledge that individual circumstances must […]


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