Norwich Union has revealed that it is planning to launch a drawdown product within the next month.Brendan Kearns, propositional development manager at NU, says this is an area the group is looking into and hopes to enter in the near future. He adds: “We see a lot of value in drawdown products and would like to offer this to our customers.” Although Kearns says a launch date has not yet been decided, it is unlikely to be longer than a month away. He says: “Drawdown fund facilities is a key growth area and one we want to be in.” Feedback to intermediaries from the Financial Services Authority, following its mystery shop into equity release, suggests that the regulator would like to see advisers recommend drawdown products over simple lump sum products.
N4 Solutions has been awarded the Gold Award by the home secretary in recognition of its contribution to charity.The supplier of compliant point of sale technology to the UK financial services industry clients include Intrinsic, the financial services network led by Lord Leitch, Woolwich, Barclays and Nationwide. N4 was given the award for fostering a […]
Alliance & Leicesters borrowing monitor shows that people are increasingly confident to take on mortgage borrowing, particularly to move home. Mortgage growth is not at the expense of household budgets and affordability is the best its been since the second quarter of 2004.A&L says first time buyers are making a come-back as one in six […]
A vast majority of landlords expect to see a significant increase in house prices over the next 12 months, reveals the latest survey from Mortgage Trust.The survey shows confidence in the housing market has reached record levels with 90% of respondents expecting house prices to rise over the coming year.Within that 90%, 53% expect an […]
The Association of Mortgage Intermediaries has welcomed confirmation that the compensation and eligibility limits for the Financial Services Compensation Scheme and for the compulsory jurisdiction of the Financial Ombudsman Service will remain at their existing levels. Rob Griffiths, associate director at AMI, says: “We are pleased that no change has been made.”
The latest figures from the Department for Work and Pensions illustrate that sickness absence is still a major cost to businesses, with an annual bill for sick pay and associated costs to employers of £9bn. This paper from Jelf Employee Benefits looks at the importance of recording sickness absence for any employee health strategy and how this can be carried out in an efficient manner to reduce absence, improve employee engagement and drive up profits.
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