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Skandia develops IHT calculator

Skandia is developing an IHT calculator as part of the development of its online wrap proposition. The tool will work out the client’s IHT liabilities based on assets entered into the system and will be live by the end of the year.

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Nvesta hit after Eurolife goes into administration

Nvesta says it is closed to new business while its future is decided after parent company Eurolife Assurance Group entered administration. EAG went into administration on August 17 when this year’s 700,000 instalment of a five-year compensation plan to policyholders who invested 17m into secured bonds in 1999 fell due. Further compensation for bondholders will […]

NU equity release rates rise

Norwich Union is raising the interest rates on its fixed rate lifetime mortgage and drawdown plans from Monday.The interest rate on lifetime plan introduced by intermediaries will be 6.35 per cent (6.6 per cent APR). The previous rate was 6.25 per cent (6.5 per cent APR). The interest rate for business introduced directly will be […]

FSA looks to simplify approved persons regime

The FSA has published a consultation paper outlining proposals to merge the customer functions in the approved persons regime, in response to industry feedback.The paper follows up an FSA consultation from 2005 detailing a series of proposals to streamline and simplify the Handbook.It sets out the implications for the approved persons regime on the back […]

Beacon signs up to Trigold’s sourcing systems

Trigold has announced that Beacon Homeloans is the latest lender to support its Enhanced Non Conforming sourcing module.Beacon joins other non-conforming providers that Trigold says accounts for over 95 per cent of the market in supporting ENC. Tirgold chief executive Bill Safran says: “Beacon is leading a new generation of lenders that have re-written the […]

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