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Nationwide joins Govt’s new shared equity scheme

Nationwide has confirmed it will be taking part in the Government’s new shared equity scheme.

It says it will launching a My Choice HomeBuy shared equity product from June 10.

This is one of the Government’s new schemes introduced on April 1 to replace the old Open Market HomeBuy scheme.

As part of this scheme, a housing association will provide an equity share loan between 15 per cent and 50 per cent of the purchase price.

A deposit is not required but an applicant can supply one if they wish.

The housing association will charge an annual fee. In the first year this is 1.75 per cent of the equity share loan. A portion – one twelfth – of this fee is collected monthly. The fee rises each year.

Nationwide says these applications are processed as equity share cases and must be submitted to the broker’s usual service centre on a paper application form together with the equity share questionnaire.


Pump it up

Consumers are being hammered by the effects of big increases in the price of oil. kate mallord assesses whether there are further rises already in the pipeline or if a rise in production and fall in demand next year will bring some respite

Andrew Fleming

Aegon Asset Management is most commonly associated with bonds but its equity and ethical funds are also getting a lot of attention. The firm was recently named by Lipper as best overall group in the large UK equity category and its UK growth fund and UK ethical funds both scooped their sectors in the recent Money Observer awards.

‘How to…audit your auto-enrolment scheme compliance’

Avoid pension penalties with our auto-enrolment checklist

According to the Pensions Regulator’s annual commentary and analysis report released this month, 785 potential non-compliance cases were referred for investigation, with 23 auto-enrolment compliance notices issued. And they predict that the use of their statutory powers is only going to increase.


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