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Abbey bumps up mortgage rate

Abbey National has become the fourth of the big lenders to raise its home loan rates by 0.25 per cent.

The move follows last week&#39s 0.25 per cent interest rate raise by the Bank of England and the hiking of variable rates by Halifax, Nationwide and Cheltenham & Gloucester.

Abbey says the rate for savers will rise at the same time as borrowers rates on February 1, but would not confirm how much the saver&#39s rates would increase.


Pru reports strong life and Egg growth

Prudential is reporting strong growth in its life and pensions figures, as well as ongoing growth at internet bank Egg.Group-wide insurance and investment sales rocketed 61 per cent to £12.3bn in 1999, while total UK insurance and investment premiums also soared 61 per cent to £7.4bn.UK sales were showing an increase of 38 per cent […]

Zurich tight-lipped on R&SA bid

Zurich Financial Services says its UK life insurance business grew 24 per cent to £2.6bn last year, but the life office would not confirm if it was to bid for rival Royal & SunAlliance.On an annual premium equivalent basis, Zurich&#39s new business premiums rose by 12 per cent to £479m. Investment sales soared by 37 […]

Carpetbagger beater

Norwich & Peterborough Building Society is joining fellow carpetbagging targets by asking new members to hand over any windfall payments to charity.The move follows that of other building societies in recent weeks, including Nationwide.Experts predict Skipton Building Society is to enforce the pro-conversion deterrent in the next few weeks.N&P chief executive Matthew Bullock says the […]

BoS squeeze on NatWest

Bank of Scotland is aiming to squeeze an extra £518m from National Westminster Bank, if it beats Royal Bank of Scotland in the ongoing £22.5bn takeover battle.BoS is claiming the extra revenue can be achieved by opening new branches, cross-selling new products to customers and tailoring services to small businesses.The forecasted extra revenue will be […]

Greece: the sideshow continues

Artemis managers James Foster, Mark Page and Laurent Millet comment on the Greek deal, describing it as “just another fudge” getting in the way of bigger developments in China, the UK and the US. To read the full article click here.


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