View more on these topics

Quarter of homeowners have no repayment cover

Almost a quarter of homeowners in the UK are leaving their families’ futures uncertain by failing to cover their mortgage debts in the event of their death, according to Friends Provident.

The figures suggest that homeowners are putting the contents of their homes before the house itself and, despite an estimated 2tn protection gap, 92 per cent have contents insurance while only 69 per cent have cover for mortgage repayments.

Seventy-eight per cent of respondents acknowledge that the property owner should be responsible for ensuring that family members are looked after if they die.

Friends found a poor gen-eral level of understanding about protection products. Only 28 per cent of homeowners could correctly identify term insurance as providing a tax-free lump sum in the event of death while 41 per cent admitted they had no idea what it was.

Head of protection marketing Ian Jefferies says: “The key thing for people to remember is that life insurance can soften the financial difficulties for loved ones should the worst happen.”


New Abbey branches will aid brokers

Abbey says intermediaries will benefit after it announced plans to open an additional 100 branches. A spokeswoman says brokers will see service improvements from the additional resources the bank will have.

Northern Ireland IFAs missed out on training

Pension providers shunned Northern Ireland IFAs in the run-up to A-Day with many getting no training until after April 6, says Whitechurch Network. Compliance technician Nick Cunningham says several IFA firms rang Whitechurch Network at the beginning of April asking for training because they had a lot of unanswered questions about A-Day. Cunningham went to […]

NU and HSBC move into PTA market

Norwich Union and HSBC have entered the pension term assurance market. NU has launched life insurance with tax relief and mortgage life insurance with tax relief on level and decreasing terms. HSBC has set up life cover with tax relief and mortgage cover with tax relief.

Preferred and SPML to merge operations in Lehman shake-up

Lehman Brothers has announced the amalgamation of two of its mortgage subsidiaries Preferred and SPML.All loan operations of the pair will be combined but both will retain the underwriting philosophies of the different brands and sales forces to service their particular fields. Lehman has yet to decide whether to combine the two offices.It has also […]

Retirement - thumbnail

Pension freedoms: stop the scams

At the beginning of 2015, we highlighted that the new pension freedoms that come fully online on 6 April also represent a very attractive opportunity for the criminal fraternity to scam savers out of some, or all, of their accumulated retirement savings.


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 advice.

    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