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SHIP says advisors must have lifetime qualification

Safe Home Income Plans says from August 1 2007 its members will no longer accept business from advisers who do not hold a suitable lifetime mortgages qualification.

This resolution from the UK equity release industry body means that all advisers will have to sit the lifetime mortgages examination offered by the Chartered Institute of Insurers, The Chartered Institute of Bankers (through its educational wing the Institute of Financial Services) or the equivalent bodies in Scotland in order to work with any of its members.

Since the launch of the Institute of Financial Services Certificate in Lifetime Mortgages last year, 2000 advisers have already registered for the course.
It is hoped, that with SHIP members making such qualifications requisite for working with them, that even more advisers will be encouraged to take specialist examinations for equity release.

In addition, SHIP has also announced the introduction of an equity release checklist for advisers selling equity release.

This checklist can be used as an aide m謯ire by advisers to ensure that they have covered all the appropriate areas when selling equity release products to clients such as alternatives to equity release, consultation with families and impact on benefits and estate.


Future to waive completion fees

Future Mortgages, the mortgage business of CitiFinancial in the UK, is waiving completion fees on all core products.The offer will save customers up to 650 on a discounted mortgage and up to 850 on fixed rates, and is open until September 1.The offer follows the launch of buy-to-let and 100% fixed rate mortgage product ranges […]

Integrated software offer

Classic Network Solutions is offering a fully integrated version of MortgageStream case management software to its members.

A better way to help country people

Proposals by the Rural Housing Commission to give local people a better chance of buying property in rural areas will have little effect and could have unintended negative consequences for those they seek to help.

Independence still key to societies, says Stafford Railway

Despite a recent flurry of building society mergers, independence is key to the future, says Stafford Railway. Mike Heenan, chief executive at Stafford Railway, says: “We have already seen agreement for three mergers this year, with some deals seeing larger societies swallowing up smaller players. “With speculation of rising costs and shrinking margins, industry commentators […]

Guarantees in the retirement income market

Lorna Blyth, Royal London  Do guarantees benefit customers and, if so, when? To answer this conundrum we commissioned Millimans, a global actuarial consulting firm, to conduct an independent review of the UK retirement income market and whether guarantees really do offer customers better value for money. The brief The study was one of the most comprehensive undertaken […]


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