View more on these topics

Policy traders offer endowment winner

Investors can now buy traded endowment policies with existing guarantees at least on a par with the gross purchase cost.

The Insurance Policy Trading Company says this will help investors make the most of reduced TEP prices.

Julian Knopf, spokesman for IPTC, says: “In some cases the total outlay of purchase price plus future premium costs is even less than the guarantees in the sum assured and bonuses already attached to the policy.

“With future bonuses to be added every year until the maturity date this means investors simply cannot lose their money, provided they keep the policies to maturity and pay all future premiums.”

Recommended

HFS Loans customers to benefit from OFT ruling

HFS Loans Ltd has agreed to fairer terms and conditions in its interest-back loan agreements following action by the OFT. Under the HFS interest-back scheme customers could borrow up to £25,000, with the interest paid refunded after the five year loan period – subject to a maximum refund of £4,000 – provided that the borrower […]

Woolwich chief exec Peacock to step down

Mortgage brokers have expressed regret at news that The Woolwich chief executive Lynne Peacock is to step down early this year.Peacock has been with the former building society for 19 years and has worked in almost every department, most recently as operations director. She was behind The Woolwich Open Plan account.Peacock originally decided to leave […]

Legal & General rolls out equity release mortgage

Legal & General Mortgages&#39 Equity Release Mortgage is now available to all IFAs. The mortgage, originally launched in March 2002, has until now only been available to a limited number of IFAs. L&G expects the equity release market to grow during 2003 as increasing numbers of pensioners use some of the equity tied up in […]

The Mortgage Mole

Tri harderThe standard cover letter produced by a white-labelled version of Trigold&#39s Prospector software lets down the system&#39s hi-tech image. The cause? That most human of errors, a spelling mistake. One broker tells Mole: “I don&#39t send the automatically-produced cover letter to my clients because it has the exotic word &#39consititute&#39 in the first paragraph […]

Newsletter

News and expert analysis straight to your inbox

Sign up