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NU hits back at Nationwide&#39s criticism of equity release schemes

Norwich Union has responded to Nationwide&#39s prediction that equity release will be the next misselling scandal, saying the comments are alarmist and do not paint a fair picture of a growing market.

Personal finance director Mark Kelly says: “Equity release plans do have their place but, like any other financial product, will not be suited to everyone. It is dangerous and harmful to assert that because equity release plans are sold to the over 55s, that they are being missold.”


Product matters

You may groan at the thought of another New Star fund and wonder how this one can differentiate itself from some of the other funds in the stable. Well, for a start, its UK special situations offering is a tiny fund at only £2.5m and it is not being run by a fund manager you […]

TUC urges jobseekers to prioritise pensions

The TUC is launching a campaign to urge job seekers to look at the detail of an employer&#39s pension offer when deciding whether to accept a job. The TUC says that too many job seekers, particularly young people, fail to understand how much a good pension scheme contributes to the pay and conditions of a […]

Axa appoints new marketing director

Axa has announced the appointment of Dave Whitaker as its marketing director. Whitaker joins having spent 20 years at Clerical Medical where he was a director responsible for retail marketing. At Axa he will be take control of design and development as well as promotion of Axa&#39s life, pensions and investment products and manage a […]

Home truths

The Government has sensibly conceded regulation of home-reversion loans. The move had been resisted by the Treasury which argued there was little evidence of consumer detriment. But there was a clear moral hazard in regulating equity release but not home-reversion plans. But there is still likely to be a regulatory gap because regulating home reversion […]


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