Just Wills, the country’s largest will writing and estate planning organisation, has launched a scheme that allows mortgage brokers to offer a will writing service to their clients.With brokers increasingly dealing with clients who are buying houses that are well above the 250,000 Inheritance Tax threshold, Just Wills says having a will is imperative for many clients. The Just Wills Affiliate Scheme has been set up as a business development package that brokers buy into for 5,000. It allows brokers to offer an integrated will writing and estate planning service within their existing business offering. Just Wills says by writing 20 wills per month with the full package and charging 565 per case, of which the adviser takes on average 75%, brokers could earn an additional 102,000 every year. The scheme also allows brokers to offer a storage option, providing secure storage for the will and associated documents, as well as free legal, tax and medical helplines. If the client dies, the appointment of Just Wills as executor of the will is included in the package. Of course, many advisers may not live longer than their clients to capitalise on this or may choose to retire. To meet this eventuality, Just Wills has a Practice Buy Out scheme whereby brokers can sell on their client books. It says a medium sized practice could achieve a buy out of nearly 500,000 by writing just 40 wills per month for 10 years and meeting a number of other criteria. The company says up to 30 million adults in this country do not have a will, making will writing and the associated services potentially needed by seven in every 10 clients known to intermediaries. The will writing sector is self-regulated by the Society of Will Writers, of which Just Wills is a member. The society is keen to promote high standards in the industry and provides a three-day course to train people how to write wills. David McMaster, managing director of Just Wills, says: “Many brokers pass up the chance to write wills for their clients. “They should see this as a new revenue stream in light of financial pressures since M-Day. Not only can they earn substantially as they write business but they can also enjoy passive trail commission.”
Nationwide has estimated that since it abolished its higher lending charge back in September 2000, borrowers in the UK have paid over 1bn in unnecessary higher lending charges.Despite Nationwide’s stance to make mortgages more affordable, most high street lenders still charge a higher lending fee for customers looking to borrow more than 90%, or in […]
em-homeloans has announced that its offer of free valuations across the entire sub-prime range is set to continue.In conjunction with all branded lenders, including Beacon, First National, GMAC RFC, Kensington, Mortgage PLC, Platform, rooftop and SPML, em-homeloans offer of free valuations has established it as the first ever packager to present such an offer.Simon Mouncher, […]
Norwich and Peterborough says it is reducing rates on its UK and Spanish fixed rate mortgages, with immediate effect. Fixed rate schemes over two years will be reduced from 4.78% to 4.68% (maximum 90% LTV and 699 reservation fee), from 4.98% to 4.84% (maximum 90% LTV and 385 reservation fee) and from 5.34% to 5.24% […]
The Financial Services Authority today appointed two new directors and announced some moves among existing directors.Sally Dewar is appointed director of the markets division. Dewar joined the Stock Exchange’s Listing Authority (now the UK Listing Authority) in 1998 and is currently head of primary markets within the markets division. She will report to Hector Sants, […]
‘Work like a dog day’ recognises the hardest-working people. On this day, employers show their appreciation for all of their employees who carry the heaviest workloads.
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