Mortgages plc has suspended all its heavy and unlimited adverse products in its latest criteria change. It will also be reducing maximum loan to value on its medium adverse range from 85 per cent to 80 per cent and maximum LTVs on its light adverse from 85 per cent to 90 per cent.
Equity Income Fund
The tripartite arrangement between the Bank of England, the FSA and the Treasury that was designed to maintain financial stability failed its first big test, according to the CBI.
Ascent Fund Managers is introducing a fund that will invest in residential property on Florida’s Gulf Coast.The company is seeking to raise 15m for the Ascent 07 Florida property fund.With up to 70 per cent gearing, Ascent will aim to create a 50m fund to acquire resort-style, amenityrich second homes and principal residences.The objective of […]
Leading mortgage brokers say Northern Rock’s management must take responsibility for the narrowness of its funding policy and for failing to have a disaster recovery plan.At the round table debate, Robert Sterling managing director Kevin Duffy said the firm must take responsibility for its problems, noting this warning comes from the intermediary market where Northern […]
By Fiona Tait, Pension Specialist Royal London firmly believes in the value delivered to clients by financial advisers, not just for one-off events but on an ongoing basis. This is a position we continue to hold in our consultation responses and external communications while always questioning whether there are ways in which we can help […]
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Royal Bank of Scotland has joined rivals like HSBC in launching an automated investment advice service for more than five million customers. The bank claims to be the first bank in the UK to launch a “fully regulated” robo-advice service, which will be under its NatWest brand. The service, live from Monday, is targeted at […]
There is nearly £8.5bn in “drifted” legacy UK equity income funds that have underperformed against the sector over the past decade, research has found. As the fund management industry awaits Mifid II next year, Morningstar has analysed the competitive UK Equity Income sector on behalf of Money Marketing and found about 10 per cent of the sector’s […]
Old Mutual Global Investors has appointed Freddie Woolfe head of responsible investment and stewardship, reporting into chief executive Richard Buxton. Woolfe joins from Newton Investment Management, where he was a responsible investment analyst primarily covering the healthcare and technology, media and telecommunications sectors. Previously he held roles at Hermes Equity Ownership Services and HSBC. Woolfe will […]