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Enhanced annuity sales plummet 29% in Q1

Enhanced annuity sales plummet 29% in Q1

Q1 2016 saw UK sales of enhanced annuities to people with a reduced life expectancy continue a downward trend that began in 2012, according to Willis Towers Watson.

10 Aug 2016

IFS: single market issue "seriously problematic" for financial services

IFS: single market issue "seriously problematic" for financial services

A new report by IFS researchers says that the most important economic choice for the financial services industry post-Referendum is whether the UK retains membership of the single market.

10 Aug 2016

FCA announces amendments to new GI renewal rules

FCA announces amendments to new GI renewal rules

The FCA is requiring general insurance providers to make changes to their renewal communications by April 2017, in line with the new rules.

10 Aug 2016

In with the wrong crowd?

In with the wrong crowd?

On 8th July, the FCA announced it was taking the first step in launching the crowdfunding post implementation review. The regulator outlined the size and characteristics of the market, including recent market developments, and invited all interested parties to offer feedback about areas that should be considered, what risks are emerging for consumers, and to provide their thoughts on the sector.

10 Aug 2016

BoE gilt buyback scheme falls short by £52m

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BoE gilt buyback scheme falls short by £52m

The Bank of England's gilt buyback scheme has fallen short by £52m.

10 Aug 2016

CML: FTBs drive 29% monthly lending rise

CML: FTBs drive 29% monthly lending rise

June mortgage lending rose by 29% on a monthly basis and 12% year-on-year, driven by strong first-time buyer figures, according to the latest CML statistics.

10 Aug 2016

AIG Life launches Key3 critical illness cover

AIG Life launches Key3 critical illness cover

AIG Life has launched Key3, a 'simpler' form of critical illness cover which pays a lump sum upon diagnosis of cancer, heart attack or stroke.

10 Aug 2016

Kent Reliance and Aldermore cut SVRs by 0.25%

Kent Reliance and Aldermore cut SVRs by 0.25%

Kent Reliance and Aldermore have become the latest lenders to reduce their variable mortgage rates by 0.25% following the Bank of England’s decision to decrease Bank Rate to 0.25%.

10 Aug 2016

Economy shows "marked slowdown" as GDP growth drops 0.3%

Economy shows "marked slowdown" as GDP growth drops 0.3%

NIESR's monthly estimates show that GDP grew by 0.3% in the three months ending in July 2016 after growth of 0.6% in the three months ending in June.

09 Aug 2016

Nationwide launches its lowest 10-year fix at 2.79%

Nationwide launches its lowest 10-year fix at 2.79%

From tomorrow, Nationwide is making reductions to the majority of its fixed rate mortgages by up to 0.20%.

09 Aug 2016

 

Duncan Kreeger leaves West One Loans

Duncan Kreeger leaves West One Loans

Duncan Kreeger, co-founder of West One Loans, is leaving the company to "focus on wider business interests".

09 Aug 2016

Standard Life H1 profits jump 18%

Standard Life H1 profits jump 18%

Standard Life's operating profits before tax rose by 18% to £341m in H1, which it has attributed to 'diversification in challenging markets'.

09 Aug 2016

Barclays reaches £77m settlement over Libor rigging

Barclays reaches £77m settlement over Libor rigging

Barclays has reached a $100m (£77m) settlement with 44 US states in relation to the Libor rigging scandal.

09 Aug 2016

Skipton cuts resi rates by 0.25%

Skipton cuts resi rates by 0.25%

Skipton Building Society is launching a revised range of two and five year residential mortgages with free valuations and rate cuts of up to 0.25%.

09 Aug 2016

Will a government reshuffle put housing back on the map?

Will a government reshuffle put housing back on the map?

You may have noticed there’s been one or two changes in British politics of late. The Labour Party all but imploded, sparking the second leadership debate in a year, the Prime Minister sensationally quit and the new leader of the Conservative Party - and, indeed, the country - went on a culling spree and created a new cabinet - all within a matter of weeks.

09 Aug 2016

Financial Reporter launches new Specialist Lending Roadshow dates

Financial Reporter launches new Specialist Lending Roadshow dates

Following the success of its first Specialist Lending Roadshow, Financial Reporter is delighted to announce a second round of Roadshows with six new specialists.

09 Aug 2016

CMA competition reforms to "shake up banking"

CMA competition reforms to "shake up banking"

The final report of the CMA's retail banking market investigation has concluded that older and larger banks do not have to compete hard enough for customers’ business, and "smaller and newer banks find it difficult to grow".

09 Aug 2016

L&G retirement profits surge 44% in H1

L&G retirement profits surge 44% in H1

Legal & General has reported a 10% rise in first-half operating profit to £822m, boosted by strong growth in its retirement business.

09 Aug 2016

Equity release helps 32 people onto housing ladder every week

Equity release helps 32 people onto housing ladder every week

32 first-time buyers are being helped onto the housing ladder every week as a result of an equity release product, according to Retirement Advantage.

08 Aug 2016

The Mansfield launches new high-LTV rates

The Mansfield launches new high-LTV rates

Mansfield Building Society has launched a five-year fixed rate mortgage at 4.25% with no completion fee on loans up to 95% LTV in its latest round of residential mortgage updates.

08 Aug 2016

Government to make £2.7bn profit from Lloyds bailout

Government to make £2.7bn profit from Lloyds bailout

The government can now sell its remaining stake in Lloyds bank at a profit of £2.7 billion as a result of dividends, fees, and deals struck last year to sell shares at relatively high prices, according to analysis from Hargreaves Lansdown.

08 Aug 2016

Tesco Bank extends distribution to Openwork

Tesco Bank extends distribution to Openwork

From today, Tesco Bank's mortgage range will be available through the Openwork mortgage panel.

08 Aug 2016

Accord cuts application to offer time by five days

Accord cuts application to offer time by five days

Accord says that brokers are receiving quicker offers on client applications following a series of changes to its application and underwriting process.

08 Aug 2016

MPs to launch probe into DB pension regulation

MPs to launch probe into DB pension regulation

The Work and Pensions Committee is investigating whether the current regulatory powers of the Pensions Regulator and The Pension Protection Fund are still adequate following the BHS pensions scandal.

08 Aug 2016

Debt management firm receives FCA authorisation

Debt management firm receives FCA authorisation

Commercial finance broker Pegasus Funding Resources has been granted authorisation to carry out credit broking, debt adjustment and counselling by the FCA.

08 Aug 2016

The Source announces GI platform enhancements

The Source announces GI platform enhancements

The Source has announced the latest round of enhancements to its GI platform.

08 Aug 2016

Sourcing systems are not decision makers, warns Clever Lending

Sourcing systems are not decision makers, warns Clever Lending

Clever Lending says that although MCD has acted as a catalyst for 'fintech' growth, sourcing systems are "there to help with the overall service offering, not a solution in themselves".

08 Aug 2016

Time is of the essence - short-term finance for clients in a predicament

Time is of the essence - short-term finance for clients in a predicament

In this marketplace, advisers might not be aware of the short-term finance options for clients until they are presented with a personal case study that brings home what can be achieved.

08 Aug 2016

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