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Only 25% of homeowners aware of seller&#39s pack

Only a quarter of homeowners are aware of proposed Gov ernment changes designed to speed up the process of buying and selling process, says a survey by Legal & General.

Major changes to the process are likely to come into effect in three years. The idea of seller&#39s packs for all potential buyers has yet to register with the public, according to L&G.

The company is urging IFAs to inform their clients about these potential changes because of the impact they would have on the homebuying process and has published a leaflet to aid advisers called the Government&#39s Review of the Home Buying and Selling Process.

Director (housing market) Stephen Smith says: “Estate agents and IFAs will play a key role in raising awareness of the new process.”


Revenue relents on policing term cover premiums

The Inland Revenue has thrown the pension term insurance market a lifeline by climbing down on providers&#39 resp-onsibilities to police new contribution rules.The Revenue has agreed to take responsibility for checking policyholders make sufficient pension contributions to cover their life insurance premiums. The only responsibility for life offices will be to get a letter from […]

LIA backs Warland in product design row

The LIA is backing Autif director-general Philip Warland in the heated debate with the ABI over the role of Gov ernment in financial product design and marketing.The LIA claim it supports Warland&#39s recent comments that the Government has an important role to play in the design of financial products.Spokesman John Ellis believes it is unclear […]

Take a Pep offshore

April 1999 saw the demise of Peps, replaced by Isas which offer investors the opportunity to make investments of up to £163;7,000 each year tax-efficiently until 2006. However, investors with existing Peps can still transfer their plans between providers.The potential for this market is substantial and worth serious consideration by IFAs, given that an estimated […]

Government should set standards

Polarisation is under attack as never before. The industry as a whole has lost the trust of the consumer. Some of the bigger organisations are hoping and positioning themselves for multi-ties.The continued use of panels by large nationals and networks weakens the arguments for a truly independent sector. Panels can be compr ised of just […]


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