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Redemption penalty warning

Less than half of all borrowers are being warned about redemption fees when taking out a mortgage, according to research by on-line broker E-loan.

The US mortgage broker who recently set-up a UK service, is claiming the onus is on the industry to reverse consumer ignorance on mortgages.

E-Loan chief executive Andrew Armishaw says: “The answer lies with empowering the consumers rather than regulating the provider.”


Zurich tight-lipped on R&SA bid

Zurich Financial Services says its UK life insurance business grew 24 per cent to £2.6bn last year, but the life office would not confirm if it was to bid for rival Royal & SunAlliance.On an annual premium equivalent basis, Zurich&#39s new business premiums rose by 12 per cent to £479m. Investment sales soared by 37 […]


Equitable Life could be stung with a £1.5bn bill after seeming to lose its long-running legal battle on guaranteed annuities in the Court of Appeal.A panel of judges ruled by a two-to-one majority Equitable Life&#39s move to cut 90,000 pension bonuses was unlawful. The life office had wanted to cut the bonuses of guaranteed annuity […]

FSA e-probe

The Financial Services Authority is starting its consultation process on how the alternative share trading systems and electronic exchanges should be regulated.The consultation comes amid a movement away from traditional stock exchanges to electronic communications networks.One of the regulator&#39s concern is how fund manages and equity trading houses can offer the best price available, which […]

Chasm between investment performances

The difference between the best and worst-performing UK funds over the last three years is as much as 264 per cent, according to financial adviser Best Investment.Best reports the worst performing UK fund is the Ballie Gifford Smaller Companies, which increased by just 15 per cent, in its recently published guide to stockmarket funds.The best […]


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