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Private Label offers brokers bigger fees on tracker loans

Private Label and Verso are paying IFAs an enhanced fee on penalty-free

tracker mortgages to promote free advice for borrowers.

Private Label says the move is a response to the dilemma facing IFAs who

want to recommend trackers but are afraid their clients will not want to

pay fees for advice.

The packager says most borrowers are not prepared to pay a fee, which

means that brokers require enhanced fees to cover the cost of advice.

In partnership with Britannia&#39s intermediary lending arm Verso, Private

Label is offering enhanced fees on both its Freedom and self-certification


The fee paid depends on the size of the loan. On a £60,000 loan, the

broker would receive £300 for a Freedom tracker or £550 for a self-cert


Private Label chairman Stephen Knight says: “Brokers do not want to charge

a fee. With this initiative, they do not need to and the customer gets the

best deal.”


CPD programme to set competence standards for LTC

Savers who open an account with Cheltenham & Gloucester before July 31will be given two free tickets to any National Trust house or garden. C&Gwill also donate £1 to a National Trust coastline campaign for each accountopened.Trade bodies Sofa and IFA Care are teaming up to develop a continuingprofessional development programme to establish minimum competence […]

Firms offer charity stakeholder plan

A stakeholder-friendly pension scheme designed for the not-for-profitsector is being offered by KBL Investment Funds, Liberty Pensions and B&SFinancial Management.The Equilo scheme will be administered by Liberty. Fund management will becarried out by KBL and the scheme will be sold through B&S FinancialManagement, a fee-based IFA which has nationwide offices.Liberty says the scheme has been […]

A Consumer&#39s View

Have interest rates peaked? The experts do not agree but it looksincreasingly as though the housing market is cooling – as the Governmenthoped – that borrowing is declining and consumer spending is falling off.What does this mean for investors? The most obvious reaction is that bondprices will rise in expectation of yields declining. Moreover, investors,exhausted […]

Financial watchdog wants to oversee mortgages

The Financial Ombudsman wants mortgage advice to come under itsjurisdiction if it can find the resources.Head of communications for the ombudsman David Cresswell admits he wouldlike to see both mortgage and general insurance brokers invited to join thescheme on a voluntary basis.The move has been welcomed by the industry which believes it could helpfill the […]

Derek Stuart: where to find value in the UK?

Derek discusses a number of Œself-help stories as examples of where he is finding good opportunities in the UK With the FTSE trading at historically high levels, many investors have questioned whether UK equities continue to offer value. But, as Derek points out, the headline figures mask many opportunities at a sector level. He has […]


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