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Standard Life Bank to axe exit fees from end of July

Standard Life Bank has become the latest lender to confirm it will be axing its exit fees from July 31.

A spokeswoman says: “Standard Life Bank can confirm that as from 31 July new mortgage customers will not be charged a Mortgage Exit Administration Fee when they redeem.”

Standard Life Bank previously charged £230.

This follows Cheltenham and Gloucester’s recent announcement that it has axed its exit fees on all future lending.


Northern Rock next lender to scrap exit fees

Northern Rock has confirmed that with effect from July 30 it will no longer charge exit fees for new customers.NR previously charged £250 for customers to exit their mortgages.It joins Cheltenham and Gloucester and Standard Life Bank which have both recently stated they will scrap the controversial fees.Lenders have a deadline of July 31 by […]

Axa Isle of Man launches regular investment account

Axa Isle of Man has launched a Regular Investment Account to complement its offshore proposition.Axa IOM’s offering is an offshore investment bond, which has been designed to accept both single and regular premiums for people prepared to invest for the medium term, at least five years, and long term, at least ten years.Axa says the […]

Out of balance

Peter French says the country’s financial situation has been running out of control with the effects about to hit home hard and advisers should be considering changing their clients’ investment strategies

PI firms taking longer view of policies

Professional indemnity insurers are increasingly offering longer-term policies, which brokers say should benefit intermediaries.Prime Professions director Richard Brown says 12-month and 18-month terms have been the standard for advisers but many insurers are now enabling advisers to lock in the current soft market rates for longer periods.Brown says: “We are definitely seeing more two-year policies. […]

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Healthcare predictions for 2015 from Jelf Employee Benefits

The continuing fall-out from the Competition and Markets Authority’s (CMA’s) review, the rise of the private GP and digital engagement will be the primary focuses in the private healthcare industry during 2015, according to Iain Laws, managing director, healthcare and group risk, at Jelf Employee Benefits.


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