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Pru to review 300,000 endowment policies

The Prudential is currently in the process of reviewing 300,000 mortgage endowment policies to ensure customers are on track to repay their loans.

The life office is currently unsure how many of its customers are facing a potential shortfall. But the Pru says once it has established this figure it will to write to those clients offering them a number of options to make up the shortfall.

It is believed these options will provide the investor with the choice of either increasing their premiums or transferring to another repayment method.

Pru&#39s senior press officer Kevin Russell says: &#34We welcome the Association of British Insurers initiative and the FSA&#39s campaign to allay consumer concern over endowments and the review is an exercise to allay those fears.&#34


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Leeds & Holbeck Building Society extends deadline for two year fix

Leeds & Holbeck Building Society has extended the deadline for its two year fixed rate mortgage.The rate which is fixed at 5.99 per cent up to 90 per cent loan to value will now be available until September 30. It had previously been September 20.The loan has no redemption penalties once the fixed rate period […]

Insurance services dominate internet searches

Financial services internet web directory has reported a surge in the number of hits in August from people looking for information on insurance services.Unfortunately for IFAs this demand has mainly been concentrated on motor insurance, which has seen demand jump by 108 per cent.Insurance services received 42 per cent of the total number of […]

Pink Home Loans says property boom not at an end

Pink Home Loans managing director Peter Presland has said he believes the property boom will continue for some time, despite interest rate changes.He says: “Based on all the evidence, I can confidently predict continued bouyancy in the housing market with regional and local variations.”


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