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Youngsters not deterred by high house prices

The UK’s obsession with property begins at an early age, with 95 per cent of teenagers planning to become homeowners, acc-ording to research by IFA Promotion.

Half of teenagers believe they will buy their first property with their partner while 29 per cent of males and 20 per cent of females say they intend to own more than one property.

Half of teenagers say they would ask their parents for advice on a mortgage, with 15 per cent saying they would get specialist advice from a financial adviser.

IFAP is producing a free mortgage factsheet aimed at the first-time-buyer market that addresses issues such as how to find the most suitable mortgage, choosing between repayment and interest-only and where to get advice.

IFAP chief executive David Elms says: “The lack of affordable property for first-time buyers has not affected the deep-rooted desire to own property among young people. Len-ders are heavily competing for borrowers’ business which means there are plenty of options for would-be homeowners.”


Hales says it is up to advisers to deal with compensation costs

Norwich Union sales and marketing director Peter Hales believes it is up to IFAs to deal with the cost of the Financial Services Compensation Scheme, claiming that advisers need to take more responsibility for levies because of misselling.

On the level

Hargreaves Lans-down pensions research manager Tom McPhail says the company’s research shows that a worrying 80-90 per cent of investors choose level annuities over increasing annuities which could prove a catastrophe in the face of prolonged high inflation.

Boulger on mortgages

Four months into statutory mortgage regulation and it is just as easy to find non-compliant financial promotions as compliant ones.

Bright Grey scoops four honours at LifeSearch Protection Awards

Bright Grey is celebrating its success in this year’s LifeSearch Protection Awards, picking up four awards.The awards were for best critical illness product, most improved provider, best new initiative, for the second year runing, and lastly, best press office. David Robinson, chief executive of Bright Grey David Robinson says: “To be short-listed for nine of […]


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