View more on these topics

NDFA clients get the go-ahead to cash in Homemaker plans

Opal has assured NDFA investors in the Homemaker mortgage plan they can now encash their investment after lengthy delays following NDFA’s administration in October.

One investor who contacted Money Marketing, Simon Pawley, has been waiting for his plan to be surrendered since September.

In a letter to investors, Opal client services manager Graham Rennie says requests to surrender plans are now being processed.

The letter states: “Investments are sold on the 7th, 14th, 21st and 28th of each month (or the nearest working day thereafter).

“Your investment will, therefore, be sold on the first available date after receipt of your instructions. On receipt of the proceeds, which take approximately six to10 working days from the sale date, the cheque will be dispatched to you.”

Mr Pawley says he wrote to NDFA before it went into administration requesting to cash in the investment.

He received no reply to his enquiry and in October he received a letter notifying him that NDFA had gone into administration.

He says: “The information given to investors by Grant Thornton during the delays was not at all good. We did not know where our money was, what happened to it or when we could get it back.”

A Grant Thornton spokesman says: “Currently, the information we have from Opal is that they will catch up with the backlog this week and that the money due will be with investors by the end of next week.”


SimplyBiz extends fees refund deal

SimplyBiz has extended its offer to refund examination fees to advisers who have successfully taken CII exams. Advisers who have passed the relevant exams using Simplybiz services can now get a refund on their exam if taken before April 30. The offer was originally introduced as part of SimplyBiz’s plans to support firms in their […]

Home rule

Samantha Downes looks at Chancellor Alastair Darling’s moves to cut public spending by £5bn and keep more elderly and disabled people in their homes

Cashier stole from dementia sufferer

An HSBC bank employee in Hampshire has pleaded guilty to stealing £40,000 from an 90 year-old customer who suffered from dementia.


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm