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Value of new equity release business written on the up says Ship

Ship confirms 260.9m of new business was written in the second quarter of 2005, 4 per cent ahead of the first quarter.

For the half year to June 30 2005, the value of new business is up 2 per cent on the same period last ear, from 503.7m to 512.3m.

The value of lifetime mortgage business written in the second quarter of the year was 250.3m, 96 per cent of the total, while the value of home reversions written business was 10.6m.

Ship chairman Jon King says: “We believe that the market is likely to develop further as the benefits of FSA regulation build further confidence in it and consumers benefit from the ever widening choice of new suppliers and products. Flexible equity drawdown products launched this quarter have proved very popular.”


NDF growth plan aims for 8.25 per cent a year

NDF administration has launched its growth plan tracker product for July 05.The plan has an investment term of 6 years and is linked to the FTSE 100 index and the Dow Jones EuroStoxx index. The product provides a capital guarantee providing the indices do not fall by more than 50 per cent but it aims […]

Investment View: Moving the goalposts

If ever you needed confirmation that the old adage lies, damn lies and statistics still holds true, then last week’s moving of the goalposts by Chancellor Gordon Brown was proof.

Keydata income plan will invest in insurance policies

Keydata is offering a secure income bond which aims to pay 7.5 per cent annual income over five years without relying on equities. The fund will invest in a mix of cash and insurance contracts. It is designed to appeal to income investors who are put off by the perceived risk of investing in equities […]

Cable drops call for FSA supervision of buy to let

LibDem Shadow Chancellor Vince Cable has ended his campaign for regulation of buy-to-let mortgages but warns that amendments to the Regulation of Financial Services Bill are still needed to protect consumers. Cable says, after industry consultation, he now accepts the Government’s argument that regulation of buy to let is not appropriate. But he says the […]

'Feeling the Squeeze'

Royal London carried out a UK wide survey with 2,500 consumers age 35-44 over the summer. The survey found that over a third, 34 per cent, said their finances felt Squeezed and so were struggling to meet day-to-day expenses, despite 87 per cent being aware that they need to save more. However, the survey did […]


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