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Treasury says policy change could boost loan market

Legislative and accounting constraints on building societies may require “a policy response” in order for the market for longer-term fixed rate mortgages to develop, according the Treasury. Responding to the interim report of the Miles review of the UK mortgage market, the Treasury says policy may need to be changed to help societies overcome capital requirement and accounting rule constraints, among others. However, it says specific recommendations will not be made until the final report is published next year.

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Widows adding eight fund links in triple deal

Scottish Widows has bolstered its life and pension range with fund links from New Star, Jupiter and Schroders. Eight funds will be added to Widows&#39 life and pension range, including Schroders popular UK alpha plus fund run by Richard Buxton. The funds will be available across most of Widows&#39 life and pension products. Fund companies […]

NU pledge to probe rate changes over lifetime mortgage

Norwich Union has conceded that there could be a problem with its lifetime mortgage and says it will be looking into the issue of rate changes between application and completion. Last week, NU met Mortgage Portfolio Services principal Simon Chalk to discuss issues raised over the product&#39s mark-to-market early redemption penalties and the fact that […]

McCarthy warns unit trust sector against late trading

FSA chairman Callum McCarthy held a meeting with 25 chief executives from the largest unit trust managers to remind them of their responsibilities in relation to late trading and market timing. On the back of scandals in the US the regulator has surveyed UK fund managers but dound no signs so far that the &#39abuses&#39 […]

DWS Investments – DWS Managed Distribution Fund

Type: Oeic fund of funds Aim: Growth by investing in DWS equity and bond funds Minimum investment: Lump sum £1,000, monthly £25 Investment split: 50% equity funds, 50% bond funds Isa link: Yes Pap transfers: Yes Charges: Initial 4.25%, Isa 3.25%, Pep transfers 3%, annual 1.25% Commission: Initial 3%, renewal 0.5% Tel: 0800 917 0005

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