gu1 21 29.docx

1、gu1 21 292.3 suggestions for improvements According to the Flynns needs and condition, all financial production should be in low risks, stable return and higher value-added, that these suggestions would satisfy requirement. 2.3.1 Saving ProductionName of productionISAChild BondChild Trust FundFor Th

2、e couple The two older kidsThe youngest oneThe reason of choiceISA has lower initial payment of 1, and, the stable returns and lower risks appropriate for the Flynns condition Child Bond has higher return and it is less taxThese funds have stable returns and lower risks .Furthermore production is re

3、gulated by government on shares and stocker market that could reduce minimum risksThe most advantage featuresThe most important is that these products are totally tax-free The most advantage of the product is the free personal income tax and capital gains taxThe distinguish features of this producti

4、on is that the government would send voucher for customers investment.BenefitsDue to amount of deposit, the AER is around at 1% to 4.4% that could maintain value of income and fought against the higher personal income tax The return from child bond would help their pay for further education.These in

5、comes could support the kid for his further education. 2.3.2 Mortgage ProductName of production Personal LoansRemortgageFor 300000 of extension 450000 of current mortgageAverage range of APRDue to the period of loan term, longer time with higher APR. And the amount of mortgage also affects the rate,

6、 normally, more to higher. The interest rate of customers loan is personal to themselves. It is between 5% to 18%. Due to the period of mortgage, longer time with higher APR. And the amount of mortgage also affects the rate, normally, more to higher. 2.5% to 5.99%Reason of choice Loans are a relativ

7、ely fast way to obtain funds for a special purchase or project, and even large amounts can be borrowed for almost any purpose. They are suitable for expensive purchases that require immediate payment, allowing customers to spread the cost of the purchase and manage customers short term finances more

8、 easily, especially if customers loan has a fixed interest rate.Remortgaging neednt only occur when customers mortgage term comes to an end, so that, it is suit for the Flynns current condition. And the production always have better rate.BenefitsThe Loans would be the best production for the Flynns

9、on the fees of house extension without any deposits. The lower APR would suit them.The remortgage would be the best production for the Flynns on the fees of house extension without any deposits. The lower APR would suit them. 2.3.3 Protection Name of productionReason of choiceAdditional benefitsHome

10、 Insurance It is cover against loss or damage.Costs for architects and surveyors fees following damage to the buildings by an insured event up to the sum insured, that is really useful condition for the home extension. It is also cover the home contents against damage in construction period. This pr

11、otection also provides additional compensation in period of wedding and festivals. Life AssuranceCover is commonly used for protection family members. If insured die during the plan term, then the policy produces a tax free lump sum for their dependence.These productions could help family members to

12、 pay for the mortgage, when any worst happens on insured.Income ProtectionThese production help maintain the Flynns lifestyle by providing them with a monthly income if Alexander cant work for a period of time due to an accident or long-term illness during the term of the coverIncome protection insu

13、rance does not only cover mortgage payments, it can also be used to safeguard rent payments, utility and council tax bills or even monthly food costs.Pension annuityTo help Alexander save for retirement in a tax-efficient way.payments are flexible, subject to minimum amountsPension can support the s

14、table income when the couple retireIt doesnt pay capital gains tax on pension funds that is a tax-avoidance production.2.4 Likely ProvidersEach financial production has three provider to compare.2.4.1 Saving Name of productsProvidersThe reason of choiceISAHSBC Bank plcHSBC is one of the largest bank

15、ing and financial services organizations in the world, and it provides a comprehensive range of financial services to around 95 million customers through four customer groups and global businesses. It has powerful saving service and amply of experience on such production. Different kinds of ISA serv

16、ice let customers to compare each other.Barclays Bank plcBarclays provides financial services to more than 48 million customers in over 50 countries worldwide. As a responsible global citizen, Barclays is committed to ensuring the sustainability of the communities in which the business operates, and

17、 strives for sustainable relationships with customers and clients worldwide. Barclays offers personal banking services to customers in 20 key countries around the world, and provides credit card facilities through Barclaycard to many more.Products and services for personal customers include: Bank ac

18、counts, from entry-level through to premier options，A range of credit cards through Barclaycard，Savings accounts，Loans，Insurance，Online banking，Mortgages through Woolwich.Bank of ScotlandBank of Scotland, which is the fifth largest in the UK in terms of market capitalization, offer mortgages, saving

19、s, ISAs, bank accounts, credit cards, loans, investments, insurance & more.Child BondYorkshire Bank plcYorkshire Bank has 188 retail branches, a strong personal customer base and an expanding business banking capability through a UK-wide network of 72 Financial Solutions Centers. Activities of Yorks

20、hire Bank plc are saving investment. Clydesdale Bank plcClydesdale Bank has a proud history of innovation and support for Scottish industry and communities. The bank is now a member of National Australia Bank Group (opens in new window), which has over 7.7 million customers internationally. This gro

21、up allowthe bank support comprehensive long-term saving service.NatWest plcNatWest is a member of the Royal Bank of Scotland Group which is the worlds largest financial services groups. The stable returns from saving investment is their key feature.Child Trust FundThe Childrens Mutual plc Children M

22、utual have over 125 years experience of helping people provide for their families and it provide specialist in long-term savings for children.Family Investments plcFamily Investments have 35 years experience helping approximately 1.7 million* people in the UK invest in financial product of childrenH

23、anley Economic Building SocietyHanley Economic Building Societys aim is to combine the traditions and roots of a mature organization with the verve and efficiency of a modern business, by operating as a successful mutual organization with high quality customer service at its core. 2.4.2 MortgageName

24、 of productProviders The reason of choiceRe-mortgageHSBC Bank plcHSBC has best financial system to provide such mortgage. And the rate of HSBC is always in average which is the most safetyBritannia Bank plcBritannia merged with The Co-operative Financial Services whose purpose is to be a pioneering

25、business delivering sustainable financial services for members and society. They are financially prudent and strong.Ocean Finance & mortgage LtdOcean Mortgages are dedicated to providing customers with a mortgage that matches their needs whilst giving customer an honest, fair and efficient service.P

26、ersonal LoansFirst direct Internet BankingFirst Direct has wide-range service and they offer innovation, customer satisfaction and great products. This bank concentrates on saving, loans, and mortgage products.Lloyds TSB Bank plcLloyds TSB Bank plc have strengths and products from both companies - i

27、ncluding Lloyds TSBs prudent approach to risk and HBOSs leading savings, mortgage, loan, and banc assurance businesses.AAA Loans Ltd AAA Loans offer a wide range of UK Personal Loans, which can be used for any purpose from Self Employed, Personal Secured Loans, Unsecured, and Car Debt Consolidations

28、.2.4.3 ProtectionName of ProductionProvidersThe reason of choiceHome ProtectionAXA Sun Life Service plcwith a history stretching back to the 18th Century, AXA is better prepared for the future than ever before.Following the disposal of its traditional life and pensions, protection and group pensions

29、 business, AXA UK now has a clear focus on three key areas of growth:Wealth managementInsuranceHealthcarePrudential plcEstablished in 1848, today Prudential plc is an international financial services company with a product range including personal banking, insurance, pensions and retail investments,

30、 institutional fund management and property investmentsCo-operative InsuranceThe Co-operative Insurance offers a variety of insurance products and The Co-operative Investments offers products including unit trusts, investment bonds and pensions.Life AssuranceLiverpool Victoral LimitedAs the UKs larg

31、est friendly society were here to help customers make the best choices when it comes to customers money. With a range of savings, investmentsand insuranceproducts that are both good value and award-winning.Standard Life Assurance LimitedStandard Life Assurance Limited been around since 1825, and tod

32、ay they provide primarily life assurance.Scottish Widows Bank plcScottish Widows. The best loved brand in the Protection, Pensions and Investments markets.Income ProtectionAnt Insurance LtdAnt Insurance trade on arrangement general insurance contracts, and they worked exclusively with a new underwriter to create an Income Protection Insurance (ASU) policy that prov