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Tunbridge Wells Equitable launches university savings bond

Tunbridge Wells Equitable is launching a university bond to allow parents to meet the escalating cost of higher education.

The friendly society is launching the bond in response to the Government&#39s scrapping of maintenance grants and introduction of tuition fees.

The with-profits bond is designed as a monthly savings plan with a term of between 10 and 30 years. It is targeted at parents with young children.

The National Union of Students estimates that students need almost £6,000 a year, plus tuition costs of £1,000. The average student leaves university £3,000 in debt.

The bond gives three payments on maturity to cover each year the child spends at university. The minimum premium is £30 a month or £360 a year. There is no maximum premium but up to £25 a month or £270 a year can be invested tax free. There is a policy fee of £4 a year.


Moneystore joins Council of Mortgage Lenders

Money Store has fulfilled its one year trading requirement for sub-prime lenders and become a member of the of the Council of Mortgage Lenders.The Money Store must now adhere to the CML&#39s July 1997 regulations and only accept mainstream mortgage business from intermediaries who have registered with the CML and have a mortgage registration code.Money […]

Kensington aims mortgage at divorcees and self-employed

Kensington Mortgage Company has launched a fixed-rate mortgage of 8.99 per cent aimed at single parent families, divorcees and those approaching retirement.The rate is fixed until February 2000.The lender says it will also benefit contract workers, the self-employed and other workers who don&#39t meet the criteria of traditional high street lenders.Kensington has also launched a […]

Big lenders split on housing market prospects

Halifax and Nationwide are split over the prospects for the housing market with Halifax still bullish but Nationwide predicting a downturn.The Halifax house price index rose 1.2 per cent in October compared to a 0.6 for the Nationwide survey. Halifax says house price inflation rose to 6.7 per cent from 5.4 per cent in September.Nationwide […]

PepDirect removes up front commission fees for pensions

PepDirect parent Torquil Clark is launching a radical flat-fee pensions dealing service that waives up-front commission fees.PepDirect will deliver the service through its TQ Direct Choice arm. For a flat fee of £50 plus VAT it will set up a pension with one of a panel of vetted providers without charging any initial commission.The providers […]


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