View more on these topics

Yorkshire pays trail cash in bid to keep borrowers

Yorkshire Building Society is pledging to introduce trail commission on mortgages in a move which could revolutionise the way IFAs are paid by lenders.

In a bid to keep borrowers who are becoming increasingly aware of the ben- efits of shopping around for competitive rates, York-shire says it wants to “rew-ard intermediaries who encourage a long-term commitment to lenders”.

The society believes that all lenders will eventually have to make a similar move to survive.

IFAs welcome the society&#39s pledge, saying it was only a matter of time before one of the major lenders took action.

They claim the move by Yorkshire could force rival lenders to adopt the same commission policy to avoid losing market share.

Yorkshire says it is too early to release details of how much the trail commission is likely to be and whether it intends to abolish up-front procuration fees entirely.

London & Country mortgage specialist David Holl-ingworth says: “This is the natural progression of a lender trying to maintain its borrowers by recognising the part that brokers play in the process.”

Pretty Technical Partnership partner Kim North says: “Brokers will welcome a move in this direction because they need incentives to sell mortgages as the market becomes leaner. Trail commission is the future.”


&#39Third of IFA reception staff unsure of website&#39

More than a third of reception staff at major IFAs do not know theirfirm&#39s website address, according to management consultancy The CustomerContact Company. In a phone survey of 40 national and big regional IFAs, one in 10 did notknow if their company had a website while 25 per cent of those who did knowwere unable […]

IHT net closes round unwary homeowners

Soaring house prices are making increasing numbers of homeowners liablefor inheritance tax, claims IFA R J Temple. A survey conducted by Temple found that only a tiny percentage ofrespondents were aware the price of their home could push them into thedanger zone for IHT and were making plans to avoid it. The IHT thresholdstands at […]

Pink homes in on would-be landlords

Pink Home Loans has introduced the three-year fixed rate buy-to-let mortgage.The mortgage has a fixed rate of 5.98 per cent for the first three years of the mortgage for loans of up to 85 per cent of valuation.After the fixed rate period the mortgage will revert to 1.98 per cent above the Bank of England […]

HSBC Pep plus rolls over

HSBC has unveiled Pep plus, a rollover product for investors in its existing Pep plus that is about to mature.This personal equity plan (Pep) transfer product only accepts Pep transfers from HSBC&#39s original Pep plus. Under Pep rules, no new money can be added to Peps. so those who want to top up their investments […]

Tapering of annual allowance – adjusted and threshold income

The definitions of adjusted income and threshold income used to determine whether, and to what extent, someone’s annual allowance will be reduced can be confusing.  Here we try to make sense of it all. The annual allowance will be reduced for high income individuals from 6 April 2016.  Our previous article Tapering of annual allowance […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm