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Which? slams equity release

Equity-release schemes have been criticised by Which? as expensive and inflexible. It says Norwich Union is running irresponsible advertising and people should downsize or borrow from family instead.

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Mehrdad Yousefi

Alliance & Leicester’s head of intermediary mortgages believes in an individual-based approach to business and he considers the market is going to hold up well in 2006 although one of the main themes for most companies will be on retaining existing customers. Interview by Nicola York.

FSA rejects calls to raise maximum redress limits

The FSA has resisted calls to increase the maximum compensation that the FOS and FSCS can award customers. In its latest regular review of the compensation and eligibility limits for both schemes, the FSA rejected calls from consumer groups to increase the maximum limit for ombudsman awards from 100,000 to 200,000. Some in the industry […]

Cook leaves NS&I

National Savings and Investments has announced the departure of chief executive Alan Cook CBE who is to join the Post Office as managing director in February.Current deputy chief executive and finance director Trevor Bayley will become acting chief executive for the interim period.Bayley joined NS&I as finance director in June 2001 becoming deputy chief executive […]

Abbey for life

AbbeyFlexible PlusType: Flexible tracker mortgageTracker term; Lifetime of loanTracker rate: 0.49% above Bank of England base rateMinimum loan: 25,001Maximum loan: Up to 90% of valuation subject to a maximum of 500,000, up to 85% of valuation subject to a maximum of 850,000, up to 80% of valuation subject to a maximum of 1.5m, up to […]

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