The Derbyshire says it may launch an independent financial advice service for mortgage products following the unveiling of Derbyshire IFS last week.The IFS service offers independent whole of market advice on protection products, savings and investments, and also guidance on Inheritance Tax planning. But Mark Blackwell, marketing manager at The Derbyshire, says the society could offer a similar service for mortgages. He says: “We have no plans for this at the moment but we could look at offering a similar service for mortgages, although we would have to recruit different advisers to work in that area.” The society plans to recruit up to 80 advisers following the successful entry into the market of specialist lender Salt. The IFS launch follows depolarisation in the financial services industry which means authorised financial advisers can be tied to sell products and services from a single provider, multi-tied to represent a panel of providers or independent so they can offer products, advice and services from all providers. The society was previously tied to Norwich Union but will now offer whole of market advice through subsidiary Derbyshire IFS. The IFS service was unveiled by England’s World Cup-winning goalkeeper Gordon Banks.
Safe Home Income Plans has welcomed newest member Retirement Plus into its fold. The UK equity release industry body granted membership to Retirement Plus at the beginning of June bringing the total number of SHIP members to 20.Retirement Plus launched in November 2005 and has sought SHIP membership in order to support its ambitious plans […]
A significant number of intermediaries are unaware of which type of footprint will be left by a lender on a clients credit file when they obtain an Agreement in Principle or Decision in Principle from a lenders website.In the Association of Mortgage Intermediaries May mortgage Intermediary Census on credit footprints 43% of respondents complain lenders […]
Figures from The Co-operative Bank show first-time buyers in London must save for longer for their deposits. If would-be buyers saved 307 per month, half the average mortgage payment for first-time buyers, it will take six years and two months to save the 10% deposit of 25,183 required in London by 2012.
It’s difficult to comprehend how much the mortgage market has changed in a relatively short time. In the old days a borrower was pretty much at the mercy of their local branch manager’s discretion as to whether they would be granted a straightforward variable rate mortgage.
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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