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National Mutual votes for demutualisation

National Mutual members have voted in favour of demutualisation and the sale of the business to GE Pensions. Around 38 per cent of members voted, with around 98 per cent of those voting for the demutualisation proposals. Qualifying members will receive £500 compensation. Qualifying with-profits policyholders will receive enhanced bonuses over time from a pot of around £280m.


A consumer&#39s view

The vexed question of who should provide advice to stakeholder pension investors will not go away. And it is not just stakeholder. Who will provide advice on the whole area of financial planning, savings, insurance and the like if the 1 per cent maximum charge becomes more or less universal for all products? The FSA […]

Scarborough fairs well with Cap

Scarborough Building Society is offering a three-year capped rate mortgage that is available for loans up to 95 per cent of valuation with a maximum advance of £250,000.The mortgage is capped at 5.45 per cent for three years and has an arrangement fee of £295. Borrowers must pay 5 per cent of the amount repaid […]

Booming Midshires axes 150 mortgage packagers

Halifax specialist lender Birmingham Midshires is axing 150 packagers from its distribution network this week following a formal review of its third-party relationships. Midshires head of corporate accounts Alan Lawson says letters have been sent out serving 30 days&#39 notice on the companies in a move which leaves the lender with only a handful of […]

M&G to delay Isa ads

M&G is holding back on its winter advertising drive, predicting that the Isa season may not start until as late as March. Managing director of UK retail Phil Wagstaff says its major ad campaign will not start until the end of January. M&G believes the Isa season will not begin until March rather than the […]


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