The Financial Services Authority (FSA) has published new rules which mean that from the end of 2012, financial advisers will no longer be able to receive commission payments for selling investment products such as Investment Bonds, Endowment Policies, Unit Trusts, and Personal Pensions. The rule change is a radical for the financial services industry which [...]
The Sunday Times has reported that up to tens of thousands of UK homeowners with Pension Mortgages are facing massive mortgage shortfalls. Up to 150,000 Pension Mortgages are thought to have been sold in the 1980s and early 1990s. They work in a similar way to the much maligned Endowment Mortgage. What is a Pension [...]
What is a Pension Mortgage? A Pension Mortgage is a combination of an interest-only mortgage loan and (usually) a personal pension. Sometimes it is possible to use a different type of pension policy, such as a retirement annuity contract or executive pension plan, but, in the vast majority of cases, the homeowner was sold a [...]