George Osborne has taken over from Oliver Letwin as shadow chancellor as part of Michael Howards cabinet reshuffle. Osborne, aged 33, was previously shadow chief secretary to the Treasury. Other moves include Malcolm Rifkind taking over from David Willetts as shadow work & pensions secretary with Willetts moving to shadow Alan Johnson at the Department for Productivity, Energy and Industry.
Property valuations can vary by as much as 125,000, suggesting they are stabs in the dark, rather than professional opinions, reveals latest research by Which?Which? researchers posing as sellers invited 56 estate agents to value 14 properties across England in December last year. In six of the homes the top valuation was 25 per cent […]
The equity-release market is now 25 times its size a decade ago, with a total value of just under 4bn and over 83,000 lifetime mortgages. More than 15,000 lifetime mortgages – equity-release loans for older homeowners – worth 693m were advanced in the second half of 2004, according to research by the Council of Mortgage Lenders.
The FSA is sweeping into the MPPI market to look at lenders’ prices and practices.
Banco Santander confirms it will be cutting 1,000 more jobs at Abbey than it originally expected taking the total number of job losses since the take-over to 4,000. When the bank acquired Abbey in November last year, it forecast the removal of 3,000 jobs in its cost-cutting programme. Around 2,400 posts have been identified to […]
By Sarah Scott, marketing consultant You might think the question in the title is a strange one. Perhaps even more so when you learn that it’s one of several asked as part of an assessment for Employment Support Allowance eligibility in the opening scenes of the 2016 film, ‘I, Daniel Blake’. Daniel is a carpenter […]
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Another investment manager offering enterprise investment schemes has alerted clients of a 10 per cent drop in value for one of its portfolios following new Mifid rules. Mifid II, which came into force on 3 January, requires firms to notify clients when the overall value of their portfolio, relative to its value at the beginning of each reporting […]
The recent enquiry by the work and pensions select committee has reignited the debate about the future of collective defined contribution schemes. Whether these sort of schemes can be incorporated into the current UK pensions landscape is a moot point. Let’s consider some of the arguments for and against CDC. First of all, it is […]
Retirement interest-only mortgages are set to become more popular following the FCA removing hurdles to selling them. The regulator sees RIO mortgages as a possible aid to the waves of maturing interest-only loans with no repayment strategy. However, the FCA also wants RIO mortgages to be sold more widely, for example as an additional option […]