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“No. I think that the idea is an absolute load of rubbish. Everyone is so careful with what they do these days.”

Paul Morris. Metro Insurance & Mortgage Bureau

“No. People are much more aware of what they are getting into and there is much tighter governance.”

Peter Murphy,Park Lane Associates

“Yes. I think equity-release products have been sold very widely and I think there have been problems with the way some have been sold.”

James Seelig,James Seelig Financial Services

“Yes. I completely agree. You are banking on house price rises that may not happen and selling to elderly people that are not used to taking on debt.”

Phil Morris, Phil Morris Financial Services

“No. Anything to do with finance has the potential to be a misselling scandal. However, under the new guidance and rules, I don&#39t think there will be a problem with equity release.”

Sebastian Lange, Sebastian Lange Financial Consultants

“No. I don&#39t agree. Equity release is a good thing for the right people. With the safeguards in place, especially with what Ship has done, I think it&#39s safe.”

David Jose, Priory Mortgages and Financial Services

“Yes. I have concerns about the way certain firms are promoting equity release as an alternative to IHT planning. I think it is right for the FSA to look more closely.”

Miles Hendy, Thornbury Financial Management

No 57%

Yes 43%


Proof of the pudding

We hear tell of a great PR lunch off coming to the mortgage market at a restaurant near you. One of the industry&#39s famous lunchers, former journalist, current PR and careful driver Nick Gardner, is planning to be mean to Melanie Bien. (Well, not mean exactly but it rhymes). Bien is currently personal finance editor […]

&#39Decent structured deals are going to waste&#39

An issue that has been on the boil since regulation was first announced is the use of the word independent. This single word has provoked more discussion than perhaps any other aspect of regulation in both the IFA and mortgage intermediary market. If you wish to call your firm an independent mortgage intermediary in the […]

Scottish Widows Bank reduces home equity loan interest rates

Scottish Widows Bank, the telephone based mortgage and deposits bank has reduced the interest rate on its Home Equity Loan from 7.29 per cent to 6.89 per cent from October 1. The home equity loan allows home owners over 60 to release capital tied up in their home. This is a fixed rate for the […]

PruHealth launches private medical insurance

PruHealth is launching into private medical insurance with policies which link the cost of premiums to the efforts people make to look after their health. The product launches on October 4 and is designed to help people improve their health and provide extra medical cover when needed. PruHealth aims to reward customers with vitality points […]

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Pension Wise — now taking calls…

Those with decent-length memories will recall that in the 2014 Budget statement George Osborne announced the new (and entirely unexpected) pension freedoms. The new rules come fully into force in less than two weeks.


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