GMAC-RFC new chief executive officer Simon Knight has marked the start of his tenure with the launch of a mainsteam two year fixed product at 5.25 per cent.Knight says: “We have made this dramatic move for three key reasons. First, to offer consumers fixed rate protection in a rising rate market at rates significantly cheaper […]
Housing economist John Wriglesworth has warned that brokers could face future misselling claims if they advise clients to take out two-year fixed-rate products in the current market climate.Speaking at the Mortgage Business Expo 2007 in Manchester last week, the Wriglesworth Consultancy managing director said he believes there is a significant risk that interest rates could […]
Chris Hopkinson has joined LV= as head of national accounts for its intermediary division.He will be responsible for communicating life and protection to key advice firms.Hopkinson has held senior positions with Legal & General and MetLife and will be responsible for 20 major accounts.Director intermediary business Stuart Tragheim says: “We are confident that Chris will […]
The Norwich Union-owned platform has also increased the minimum single contributions to its Sipp from £100,000 to £250,000 to deter inflows from current adviser users and enable it to work through an existing backlog.
The FCA has written to payday lenders and urged them to review their lending activity to see if their creditworthiness assessments are compliant. In a letter addressed to chief executives, it sets out how the watchdog expects payday lenders to handle issues linked to the increase of complaints about unaffordable lending. If deficiencies are found […]
Around 125,000 savers lost out when the annual allowance limit was cut from £50,000 to £40,000 in the 2014/15 tax year, according to government documents. Royal London policy director and former pensions minister Steve Webb pointed to the findings this morning in an archived government note as the firm launched a new policy paper on […]
I wonder how many client conversations come to an impasse when the subject of their existing cover is discussed. All too frequently, we find clients have little knowledge of their employment benefit package. Death in service, critical illness cover and sick pay benefit periods may have been discussed during the recruitment process and will be […]