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Nationwide ditches endowment mortgages

Endowment mortgages are being ditched by Nationwide.

The move by Nationwide Investment Group follows last week&#39s scrapping of endowments by Pearl Assurance.

Nationwide Investment Group managing director Bill Tonks said: “With such low volume of sales, it is not an effective use of resources to support a training and competence regime for endowments.”

The NIG mortgage endowment plan will continue to be available to existing policyholders.


State pension bill to rise £6bn

The new second-tier state pensions could cost the Government an extra £6bn when it is unveiled in the Welfare Reform and Pensions Bill on Wednesday.The pensions is deemed twice as generous as state earnings related pension which it is replacing.The second-tier pension also boosts entitlements to carers and others earning less than £9,500 a year.

Cornhill becomes mortgage super-broker

Cornhill Life is to become a mortgage superbroker as it fights to survive the low margin stakeholder environment. General manager life Ian Reed says the company has decided to become a niche player specialising in mortgages because it is “the one area where customers still need advice”. He is also concerned Government charge capping on […]

National Mutual quotes pensions on-line

National Mutual is launching an on-line quotation service for personal pensions in February. The service aims to provide IFAs with instant access to on-line quotations through a free internet-based service.IFAs will be able to key in the details of a client, giving the system the information it needs to generate a shortlist of suitable products.National […]

Fears of online share dealing

Online trading is set to boom even though trade sharing is becoming riskier, according to industry experts.Last week Halifax suspended internet share dealing after customers were able to access other people&#39s accounts. But this Monday 800 people registered for the Halifax service – twice the level of a normal day.The mess-up highlighted the problems with […]


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