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Two thirds of consumers like long term fixes – L & C

Nearly two thirds of borrowers (63 per cent) say they like the idea of long term fixed rates, according to a financial survey carried out by London & Country. Borrowers who were not keen on the idea of long term fixed rates (37 per cent) said this was down to the level of interest rate (33 per cent), redemption penalties (31 per cent) or because they preferred variable rate mortgages (28 per cent).

London & Country says this seems to indicate that Gordon Brown&#39s plans to promote long term fixed rates will be met favourably. But the broker points out that there has been little take up of those long term deals already available.

Mortgage specialist David Hollingworth says: “Clearly, narrowing the gap between the desirability and the suitability of these products will need to be a high priority for the Chancellor. In their current format long term fixed rates do not fit the bill.”


IFAs want defining moment from FSA

IFAs are calling for the FSA to devise a useable definition of misselling so they can do their job properly, prompting Money Marketing to launch a campaign to help the FSA find a definition. The ball was set rolling by Essex IFA Emery Associates principal Peter Emery who, in a letter in this week&#39s issue […]

Franklin Templeton sets sights on UK market

Franklin Templeton Investments has unveiled four Oeic funds as part of its plans to attract more business from UK investors. Until recently, the main focus of the company&#39s fund range was Luxemburg but it acquired a Dublin base in 2000 when it acquired Fiduciary. However, the company decided the best way to attract UK business […]

Winterthur Life reports growth

Winterthur Life has bucked the poor market conditions recording growth in new single premium pension business through IFAs of 21 per cent, increasing to £329m from £272m in the first half of the year.Trustee investment plans also increased, up 122 per cent to £92m. Income drawdown is up 10 per cent to £47m, group stakeholder […]

BBB warning to IFAs on looming consolidation

Berkeley Berry Birch says few IFAs are thinking about the future direction of their businesses. It has organised a series of events to discuss what it sees as the inevitable consolidation in the industry. BBB directors will be touring six UK regions to discuss attitudes to consolidation in the IFA sector and the shape of […]


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