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NU extends its &#396 per cent promise&#39

Norwich Union is extending the 6 per cent promise introduced by CGU in January 2000 to all its with-profit mortgage endowment policyholders.

This means Norwich Union will top up final bonuses at maturity where there is any shortfall between the claim value and the value of the mortgage originally targeted provided investment earnings average 6 per cent a year after tax.

Norwich Union Life chief actuary Mike Urmston says: “The extension of the mortgage promise brings welcome reassurance to all Norwich Union with-profits mortgage endowment customers at a time of falling returns.”


Allied Dunbar Franchise Network renamed Zurich Advice Network

The Allied Dunbar Franchise Network will become the Zurich Advice Network this summer as part of Zurich Financial Services&#39 plans to develop its brand in the UK. The move follows the rebranding of UK general insurance business from Eagle Star to the Zurich name. The Allied Dunbar name will be maintained as a product provider, […]

Charcol in bulk-buy loans deal

Mortgage IFA Charcol is int roducing a range of bulk-buy mortgages to offer better terms to borrowers depending on the number of people who apply. The concept uses bulkbuying power by pooling borrowers&#39 applications and negotiating beneficial mortgage terms with a lender on their behalf. Borrowers have two-week windows in which to apply, at the […]

L&G joins stockpicking scrum

LEGAL & GENERAL GROWTH TRUST Aim: Growth by investing in UK equities. Minimum investment: Lump sum £1,000, Isa – lump sum £500, monthly £30. Investment split: 100 per cent in UK equities. Isa link: Yes. Pep transfers: Yes. Charges: Annual 1.5 per cent. Special offer: Commission – initial 5 per cent or initial 4 per […]

&#39Make endowment offices pay to send clients to IFAs&#39

Product providers should be forced to pay the costs of independent advice for consumers who have been missold an endowment policy, says the Consumers&#39 Association. The watchdog says many consumers do not know which way to turn if they have been missold an endowment policy and the best way of resolving the issue is to […]


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