View more on these topics

Providers slam Pannell claims over house prices

Providers have hit back at Durlacher analyst David Pannell after he claimed in Money Marketing last week that house prices are set to fall by 30 per cent in the next two years and spark a flurry of misselling claims.

Norwich Union has hit out at Pannell&#39s comments that the equity-release market is bound almost inevitably for a misselling scandal, saying that when equity release is sold properly, it is no more likely to provoke misselling claims than any other product.

Mortgage Express says it is strongly opposed to Pannell&#39s view that the buy-to-let bubble is about to burst, saying the quality of buy-to-let lending is very good compared with residential lending and it is very comfortable with its position as the country&#39s biggest BTL lender.

Product development manager Roger Hillier says: “We would be surprised if house prices corrected themselves by 30 per cent in the next two years. Based on our findings, we feel that the bubble is not about to burst and demand for rental properties is expected to remain strong.”

NU marketing manager for equity release Simon McGuinness says: “This sort of comment does not help the equity-release market – it is specifically intended to grab headlines and equity release is an easy target.”

Pannell says: “The problem that all the housing industry has is that they never expect house prices to fall. They do not know and I do not know what is going to happen but it will not work out as rosily as they expect.

“You never get misselling claims until something happens and I think things are going to change once house prices start to fall.”


GE Life research shows what life will be like for over-50s in 2030

Pensions specialist GE Life&#39s survey focuses on what life will be like for the over-50s to help IFAs advise their clients on planning for their retirement. The survey looks at lifestyle, financial stability, health and social attitudes. GE Life head of demographic studies Michael Stanley says: “THe number of people over 50 is increasing dramatically […]

L&G cuts bonuses as life profits rise by 7%

Legal & General has cut with-profits bonus rates despite achieving a 14 per cent investment return on with-profits assets last year. The company says returns in 2003 were in excess of its longer-term expectations but negative returns in 2001 and 2002 were well below expectations so smoothing means this has not yet been fully reflected […]

Capital gains tax

The following are the key tax planning opportunities available in the area of capital gains tax. The annual capital gains tax exemption for individuals is £7,900 for 2003/04 and £3,950 for most trustees. The exemption is available to both a husband and wife, so between them capital gains of up to £15,800 in this tax […]

Winterthur fund range goes on the defensive

Winterthur Life is introducing a range of defensive managed funds for pension and investment bond investors. The funds will aim at cautious investors by offering lower volatility through a conservative split of around 67 per cent in bonds and 33 per cent in equities. Asset allocation will initially be 26.5 per cent in UK equities, […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers. Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and thought leadership.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm