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C&G and Lloyds TSB team up for offset mortgages

Cheltenham & Gloucester and its parent firm Lloyds TSB are offering an offset mortgage, combining a C&G mortgage with a current account from Lloyds TSB.

The mortgage, savings and current accounts remain separate but the balances are offset to reduce the interest due on the mortgage. Customers carry on banking in exactly the same way.

A family and friends option allows parents or close friends to offset the savings that they have with Lloyds TSB or C&G against another person&#39s mortgage.

Instead of more interest being paid on the savings, the mortgage holder pays less interest on their mortgage while the saver keeps complete control of their money.

The mortgage is a lifetime tracker at 0.9 per cent above the Bank of England base rate with interest calculated daily.

C&G managing director Jon Pain says: “We are drawing upon our strengths to get the best result for customers.”


Sipp guide from PYSS

Pointon York Sipp Solutions is publishing a free guide to self-administered personal pensions for IFAs to use with their clients.The guide explains the structure of a Sipp, its tax privileges and investment flexibility.PY Sipp Solutions managing director Christine Hallett says: “There are currently 80,000 Sipps in place and industry experts predict that this will grow […]

BM Solutions launches new product range

BM Solutions has unveiled a new range of sub-prime, buy to let and self-certification products to be launched in June. A stepped sub-prime tracker and a five year fixed buy to let product are among the highlights of the new range. A mainstream large loan range is being introduced for loans up to and more […]

Sofa offers FPC aid as it moves toward professional status

Sofa has agreed its strategic plan to the end of 2005 which it hopes will be the first step towards turning the advisory industry into a profession. The plan includes a review of Sofa&#39s membership proposition for all members and it will also introduce a new category for those studying for the FPC exam, to […]

Friends raises CI rates

Friends Provident is increasing its critical-illness insurance rates. Guaranteed rates rise by between 5 and 8 per cent, depending on terms. Reviewable rates go up by between 8 and 14 per cent. The company claims that the changes had to be made as other life offices have moved to raise critical rates. Head of protection […]

Seeking quality in uncertain markets

By Ewan McAlpine, Senior Client Portfolio Manager In uncertain times, investors naturally seek safety. But in fixed income markets, what does that really mean? Ewan McAlpine outlines the approach RLAM’s Fixed Income Team will be adopting across its credit funds in response to potentially volatile markets this year. Click here for full article


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