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PBR: Darling to incentivise lenders to promote fixed-rate mortgages

Chancellor Alistair Darling has announced the Government will incentivise mortgage lenders to increase the take up of fixed-rate loans and encourage them to increase terms from two years to 10 years or more.

He said: “Fixed-rate mortgages can offer more certainty and I want to see more fixed-rate mortgages not just for two years but ten years or even longer. I will bring forward proposals at the Budget on reforms to help lenders ensure that, if it is right for them, more people can fix their mortgages as a matter of routine.”

CML director general Michael Coogan says: “We look forward to seeing the proposals that the Chancellor said he will bring forward in the budget. There is a key trade-off for borrowers in choosing a longer-term fix, relating to the potential costs of exiting the deal early, and this is the key feature that needs to be addressed to stimulate mainstream consumer appetite.”

Darling also announced plans to increase the number of homes built to 240,000 a year by 2016 and said the Government will spend more than £4bn over the next three years to help people living in poor quality housing make renovations to their homes.


PBR: Irish non-doms to benefit

New measures in the pre-budget report will end discrimination that has prevented Irish people resident in the UK enjoying the same tax relief as other foreign nationals, says Chiltern.

ABI says insurers well placed for Solvency II

The FSA’s Individual Capital Adequacy Standards briefing shows UK insurers are well placed to tackle the challenge of Solvency II according to the Association of British Insurers.ABI director of financial regulation and taxation Peter Vipond says the FSA’s Insurance Sector Briefing ‘ICAS – Lessons learned and looking ahead to Solvency II’ will help insurers prepare […]

Technology for today

The Money Marketing Live conference and exhibition at Manchester’s G-Mex on October 30 will house a technology arena, giving advisers an insight into the latest developments to meet today’s investor demands. You can also win a Mazda MX-5 roadster sponsored by Edeus

Trouble in paradox

The RDR strives to reach distribution nirvana but gets lost on the way

Childcare - thumbnail

Three questions for employers…

The Family and Childcare Trust’s annual survey has been widely reported in the media and the two headline figures were these: the average cost of a nursery place for a child under two has risen by 33 per cent since 2010; and the costs have risen by five per cent in a single year.


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