Nationwide plans negative action

Article Abstract:

Nationwide Building Society will offer 10% of its 900,000 borrowers, whose mortgages are bigger than their houses' value, choices of shared equity, negative equity, increasing payments or help with moving. The law requires loans above 10,000 pounds sterling to be secured but the Nationwide provides negative equity mortgages with personal loans additional to 100% loans where the unsecured part is paid off to leave an ordinary mortgage. It intends to standardise these arrangements so that banks can offer them.

Finance, Product information, Savings and loan associations, Nationwide Building Society, Investor relations

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When death benefit can be a matter of form

Article Abstract:

Employees can make expressions of wishes nominating who should receive the lump sum death benefit from their pension scheme, but they should be kept up-to-date. Counselling should be offered and employees should be advised that they are not obliged to nominate anyone. Some schemes provide a reminder to complete a statement on annual accounts. Trust law requires pension scheme trustees to use their discretion. Procedure for interested parties to make submissions should be clarified.

Laws, regulations and rules, Compensation and benefits, Pensions, Survivors' benefits, Declaration of intention, Declarations (Law)

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Tide turns against endowment policies

Article Abstract:

Endowments were used to support the vast majority of mortgages at the end of the 1980s, but endowment mortgages are now becoming less popular, with borrowers realising that they may not repay the loan at the end of the period. People who already have 25-year endowments probably do not need to feel concerned, but those with endowments of only 10-15 years could find that they need to pay extra premiums in order to ensure that the mortgage will be repaid.

Analysis

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