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Standard bank in buy-to-let push

Standard Life Bank is launching an assault on the buy-to-let market with a range of loans it claims are priced as competitively as residential mortgages. In a move designed to appeal to investors concerned about stockmarket volatility, the bank is offering flexible buy-to-let loans with rates from 5.24 per cent, depending on the size of the deposit.

Borrowers can take two payment holidays a year and may purchase up to five properties to a maximum combined value of £500,000.

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Millfield deal doubles RIs

Millfield Group is acquiring North of England IFA Heritage in a deal which will see its RIs double to 270 from 135. Millfield will pay between £630,000 and £10m for Heritage, depending on it meeting undisclosed turnover targets. Aim-listed Millfield says the acquisition enables it to operate as a fully national IFA, with Heritage adding12 […]

FSCS rules finalised

The final rules for the Financial Services Compensation Scheme due to come into effect on December 1, 2001 have been finalised. The new single scheme will replace the eight existing schemes including the Investors Compensation Scheme. IFAs will have their own category, which will not include the cost of redress for the pensions review. Anytime […]

Inside Edge

Over the last few weeks, I have been meeting with our major life company partners to review business achievements and to discuss matters for the next year with our commercial director and head of research. These have been open and frank business meetings and it is good to see we all have matching weaknesses and […]

FSA relaxes reserve rule

The FSA is throwing a lifeline to providers to stop them being forced into selling equities to meet statutory reserves. One of the FSA&#39s regulatory resilience tests which aims to ensure life offices have reserves to cover the possibility of a sharp stockmarket fall has been temporarily dropped. The FSA says the scenario the test […]

Harris Associates' view on the UK’s vote to leave the EU

By David Herro, Partner, Deputy Chairman, Portfolio Manager and Chief Investment Officer of International Equity at Harris Associates Britain’s vote to exit the European Union has led to significant uncertainty across global markets. We believe market impact of this uncertainty, though severe, is more of a shorter-term phenomenon which will provide an opportunity for long-term […]

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