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Moneynet offers tax free cushion

Personal finance web site has launched a scheme which offers all UK workers a tax free financial cushion of up to £60,000 if they lose their job as a result of redundancy, as well as an exclusive &#39back-to-work&#39 assistance package.

The policy provides cover for all lifestyle expenses such as socialising, and clothing together with the more mundane items such as cost of travel to interviews, rent or a mortgage payment.

In addition, all claimants can take advantage of the &#39back to work&#39 service that will assist in securing the right job and not just the first job that comes along.

Managing director of moneynet, Richard Brown, comments: “In the current economic climate, there is no such thing as a job for life. Accordingly, we have negotiated a product that is both attractively priced and uniquely positioned to enable those currently in work to have peace of mind at an affordable cost.”


Sweeteners on the rise

Lenders and packagers are offering increasing cashback features on mortgage products to help offset additional costs faced by housebuyers.Pink Home Loans today launches a five-year fixed rate funded by BM Solutions with a cashback of 6%. Charcol also introduced a lifetime tracker with 6% cash back, also through BM Solutions.David Copland, sales and marketing director […]

Rising prices hinder first time buyers

Rising house prices are making it harder than ever for first time buyers to get a foot onto the property ladder. And lenders are not doing enough to help according to Andy Frankish, director or Mortgage Talk Direct, the national direct department of Mortgage Talk. He says: “Many prospective buyers, especially in the London and […]

Abbey National rapped over pricing

Abbey National is facing compensation claims after the Ombudsman ruled that its mortgage pricing policy was unfair.The bank was told it was wrong to prevent existing customers from switching from its SVR, currently 6.1%, to its cheaper tracker deal, introduced in August 2001.Abbey would not allow existing mortgage customers to switch to the new account […]

Don&#39t keep us all waiting…

Hot on the heels of CP146 came the announcement last week that the AIFA and NAMBA have agreed to form a “strategic alliance”. They recognise that as regulation draws nearer, mortgage intermediaries need representation to government and the FSA on the formulation of policies and regulations.But as we explore in our cover feature starting on […]


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