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Yorkshire BS to refer interest-only customers to Age Partnership

Yorkshire Building Society is now sending its interest-only customers to equity release specialists Age Partnership at the end of their terms.

Age Partnership will then give free whole-of-market equity release advice to Yorkshire’s interest only clients who have a shortfall or no repayment vehicle at the end of their term.


Yorkshire Building Society senior risk and quality control manager of customer operations Andrew Clare says: “We are very pleased to be working with Age Partnership to develop a process to support customers who need wider advice than the group can currently provide.

“We look forward to introducing customers in complete confidence and trust that Age Partnership will look after their interests in the same way we would.”

Age Partnership corporate partnerships manager Tom Moloney says: “Our offering will encompass residential mortgage and equity release advice so clients benefit from real choice. To ensure cost is not a barrier to engagement, no advice fee will be payable.”

The partnership went live at the beginning of March.

Last July saw Legal & General sign a five-year deal to supply lifetime mortgages to Santander customers.



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By Robin Geffen, fund manager and CEO 

This year threatens to be a challenging one for UK dividend hunters. Last year saw an all-time record amount paid out in UK dividends — some £97.4bn, according to research from Capita Dividend Monitor. Yet as Capita also pointed out, out the biggest single factor driving the growth in the fourth quarter of last year was easy to identify: the rising US dollar. 

In our view, this trend is much more than simply a one-quarter phenomenon. It is actually the most profound issue to get right as a UK equity income investor in 2015. We believe that the US dollar will continue to strengthen significantly from its current level. This is due more to the US economy’s demonstrable de-coupling from the rest of the world than to a view on the UK. The US has a strong chance of tightening monetary conditions this year without jeopardising growth or de-stabilising its housing market. The same can unfortunately not be said about the UK.

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At Neptune, we have been long-term believers in the Apple story, and continue to hold the stock in a number of our portfolios based on the company’s long-term growth prospects. This is predicated on our belief that Apple has proved thus far that it can — unusually for a consumer electronics company — maintain high margins for a sustained period of time, even as adoption of new technology slows down and competitors produce similar-specification products.


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