View more on these topics

Societies benefit as savers abandon converted B&B

Building societies performed strongly in the mortgage market in January as net advances rose to £717m from £683m in December, according to the Building Societies Association.

The savings market was also strong, which the BSA attributes to customers of Bradford & Bingley abandoning the bank to return to mutuals following its conversion to plc status at the beginning of December.

Gross advances by building societies rose to the highest level for over three years in seasonally adjusted terms, reaching £2.39bn from £2.04bn in December.

Societies attracted a seasonally adjusted figure of £1.06bn in new savings, up from £961m in December.

Director general Adrian Coles says: “Traditionally, January&#39s figures show an outflow as people call on their savings to pay off bills from Christmas and to book summer holidays.

“However, this January&#39s figures are very strong. A number of people have phoned the BSA to say that following B&B&#39s conversion to a bank, they want to put their money back with a mutual.”


University peaks for Venture Technologies

Venture Technologies has introduced the academic research partners venture capital trust (VCT) which aims to produce capital growth by investing in technology developed by four UK universities.This VCT will concentrate on innovations in information technology, communications and advanced engineering that emerge from the research departments of Bristol University, Southampton University, University College London and Imperial […]

Scottish Widows stakes its claim on pension market

However Pickard says: “Competition will come from those plans which adopt a stakeholder friendly stance, but which continue to offer access to a substantial fund range. Unfortunately, no particular product comes to mind here.”Commenting on the product literature Perdisatt says: “The literature is well produced, clear and easy to read, with good flow charts. The […]

IHT&#39s a year-round thing

Scottish Equitable is urging IFAs to view inheritance tax planning as a year-round consideration, not just one kept until the the end of the tax year. It believes the Budget on March 7 is unlikely to bring significant IHT reforms but believes a second Labour term may prompt changes to the system. It is offering […]

Leggmason Investors – Leggmason Investors Extra Income Portfolio

Friday, 2nd March 2001.Type: Unit trust.Aim: Growth and income by investing in unit trusts and Oeics.Minimum investment: £1,000.Investment split: UK equity 43 per cent, cash 1.5 per cent, European equity 7 per cent, global bonds 17 per cent, UK bonds 31.5 per cent.Yield: 5 per cent gross a year.Isa link: Yes.Pep transfers: No.Charges: Initial 5 […]

Auto-enrolment: tips for employers

The Pensions Regulator (TPR) has released advice on communications for employers, including three tips to help you with your auto-enrolment duties. 1. Allow enough time to select your pension schemeIt’s recommended that you start to prepare for auto-enrolment at least 12 months in advance of your staging date; additionally, give yourself time to choose the […]


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