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Virgin and IF clash over ads

Lenders Virgin One and Intelligent Finance have become embroiled in a war of words over IF&#39s latest ad campaign which slates its rival.

The spat has been caused by ads which went live this month featuring an IF borrower saying: “I made an excellent decision by moving from Virgin One to Intelligent Finance.”

Virgin One says it is planning to complain to the Advertising Standards Authority and Office of Fair Trading, claiming the ads are factually incorrect and do not comply with the Consumer Credit Act.

IF says it has had the ads compliance checked and has used real customers in its adv-ertising for some time so that it is not singling out Virgin One. IF also accuses Virgin of copying its strategy of using intermediaries for the majority of its business, going back on its previous vow never to use IFAs.

Virgin One marketing manager Scott Mowbray says: “We never vowed not to use IFAs, Virgin Direct did but we are a product borne out of them and established ourselves as a separate entity.”


British Virgin Islands sets up regulatory body

The British Virgin Islands is setting up an independent financial services regulatory body.The move by the BVI government follows recommendations made last year by consultancy KPMG which indicated that such a body was a vital component for any offshore financial centre.The Financial Service Commission&#39s main functions will include protection of consumers by ensuring all firms […]

Close Fund Management – Close Reserve Equity Fund

Friday 11 January, 2002 Type: Oeic. Aim: Growth by investing in zero dividend preference shares and capital shares. Minimum investment: Lump sum £1,000, monthly £100. Investment split: Zero dividend preference shares 75 per cent, capital shares 25 per cent. Isa link: Yes. Pep transfers: Yes. Charges: Initial 5 per cent, annual 1.5 per cent. Commission: […]

Skipton launches guaranteed growth bond

Skipton Building Society is offering a five year guaranteed growth bond, with minimum growth of 22 per cent and potential growth of up to 50 per cent. The bond tracks the FTSE 100, S&P 500 and DJ Eurostoxx 50 indices over a five year period. Growth of 22 per cent is guaranteed, with investors receiving […]

Skipton launches US dollar tracking mortgage

Skipton Building Society is launching its Stateside Mortgage which tracks the US Dollar Libor rate rather than UK rates. It says US rates historically remain lower than UK ones and its new mortgage tracking the USDL rate for the first five years is designed to let consumers take advantage of this. Rates on the Stateside […]

Benefits of using a probate bare trust

Have you ever wondered what happens to someone’s investment bond on their death if it is not written in trust? When someone dies it is essential to deal with their estate, which can be made up of their home, belongings, investment bonds and anything else they may have owned. But, it is not as simple […]


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