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Sellers packs not necessarily the answer says Pink Home Loans

Pink Home Loans is warning the introduction of &#34home seller packs&#34 by the Government will create more problems than they solve.

The mortgage packager says sellers may be put off moving by the amount of up-front costs involved.

It believes the expense of providing a building survey, details of planning applications affecting the property and a list of fixtures and fittings included in the sale, could create a cost barrier many home owners are unwilling to cross.

Pink managing director Peter Presland says: &#34Although the aim of the initiative is laudable, there are downsides it is no panacea. The home buying process is a traumatic and difficult process and anything that can ease the pain is to be welcomed.

&#34However there are a couple of serious &#39buts&#39 about these proposals. The seller will be obliged to pay a lot of up-front expenses. You could argue that this will put a lot of obstacles in the way of people moving, reducing the number of properties on the market.&#34


New banking watchdog chief warns of punitive fines

Banks and building societies could face fines punitive fines and naming and shaming under proposals from the new head of the banking industry watchdog.Banking Code Standards Board chief executive Seymour Fortescue says he will look at adding to the penalties available. Currently the board has no power to fine member firms.Implementation of such rule changes […]

Japan the place to be according to L&G

Legal & General is urging IFAs to recommend Japanese investments for longer term capital growth.L&G believes the apathy which affected the Japanese stockmarket for most of the decade is now over and it is now showing signs of recovery.The life office says the government and the banks are finally facing up to Japan&#39s economic problems […]

DBS teaming up with Scottish Mutual for nursery stakeholder

DBS is teaming up with Scottish Mutual to offer a &#34stakeholder friendly&#34 group personal pension scheme for nursery staff.DBS, which boasts 1,800 member firms and 2,750 RIs, believes the nursery sector, which has average earnings in the range of £8,000 to £15,000 a year and a predominantly female workforce, is an ideal market for stakeholder […]

Permanent Insurance adds waiver option to term assurance range

Protection specialists Permanent Insurance is adding a premium waiver option to its range of term assurance products.Although subject to underwriting the option is available at a fixed rate cost of 3 per cent of the premium for single life cases and 6 per cent of the premium for joint life cases regardless of age or […]


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