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New cars popular choice for lifetime mortgage customers

Norwich Union Equity Release says buying a car is one of the main reasons older people take out a lifetime mortgage.

Twenty eight per cent of people releasing equity from their home are spending at least some of the money on a new car according to NU.

Director Mark Kelly says: “Having a car is the key to independence for many people. However, buying a new car can be a huge financial burden for older or retired people and we have found that many of our customers use a lifetime mortgage to buy a car that they will be able to enjoy for years.”


Old Mutual Asset Management – Old Mutual Dynamic Bond Fund

Type: Unit trust Aim: Income and growth by investing in fixed-interest securities Minimum investment: Lump sum £1,000, monthly £250 Investment split: 100% in fixed-interest securities Isa link: Yes Pep transfers: Yes: Charges: Initial 3.5%, annual 1.25% Commission: Initial up to 3%, renewal up to 0.5% Tel: 0808 100 2715

Which? probe points finger at mortgage advisers

Which? magazine is accusing mortgage advisers of flagrant disregard for the MCCB code of practice after an undercover probe found only three out of 39 advisers gave acceptable advice. It claims that two out of three brokers failed to explain properly how mortgages could be repaid and nearly half gave misleading information. Seven of the […]

The whole tooth

I am constantly amazed at the way other professions are implementing technology to improve the way they look after their clients. Let us take a very simple example. I had a filling replaced rec-ently. Instead of filling the cavity himself or taking a mould and sending it to the laboratory to build, the dentist used […]

Prudential – PruFund Investment Plan

Type: Smoothed unitised investment bond Aim: Growth and income by investing in a choice of two smoothed managed funds Minimum investment: Lump sum £5,000 Fund links: PruFund growth fund, PruFund growth and income fund Charges: Regular income option &#45 establishment charge 0.45% a year for first five years, annual 1.5% until year 10, thereafter 1%, […]

Benefits of using a probate bare trust

Have you ever wondered what happens to someone’s investment bond on their death if it is not written in trust? When someone dies it is essential to deal with their estate, which can be made up of their home, belongings, investment bonds and anything else they may have owned. But, it is not as simple […]


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