View more on these topics

C&G to hold mortgage base rate until the Millennium

Cheltenham & Gloucester has responded to the Bank of England&#39s base rate increase by announcing it will hold its rate until the end of the year.

C&G says it will hold its standard variable rate currently 6.85 per cent until December 31, when it will then rise by 0.14 per cent to 6.99 per cent.

This increase will not be passed on to the borrower should the Bank of England&#39s base rate were to fall back to 5 per cent.

But the decision to hold the rate is dependent upon any further rises in the Bank of England&#39s base rate. C&G says if a further increase occurs it will review the rate at that time.

C&G&#39s managing director Roger Burden says: &#34Our borrowers can be reassured by our decision to delay the interest rate increase.

&#34We pass on interest rate movements in a fair and balanced way so that our customers benefit over the whole term of their mortgage.&#34


Murray wins support in Leek United Building Society bid

Murray Financial says it has conjured up enough support among Leek United Building Society members to force a special general meeting on its proposed take-over, according to the Financial Times.Murray Financial chief executive Ken Murray says he has the support of more than 100 of the society&#39s members, willing to put their names forward to […]

Concern at offshore geared returns

Concern is gathering in the offshore community that inv-estors may beabout to lose out because of purchases of some geared investment products.Fears emerged after analysis of Channel Island merchant bank NMRothschild&#39s Loan and Guarantee Scheme which was withdrawn in Decemberafter 14 months on the market. The scheme uses gearing in the hope ofpushing for higher […]

Equitable welcomes court case result

Equitable Life has welcomed the High Court judgement on Guaranteed Annuities.The mutual life office has particularly welcomed the decision by the court that the directors have discretion which is “well wide enough” to grant final bonuses on an amount conditional on the form in which benefits are taken by the policyholder.It also welcomes the ruling […]

IFAs challenge Ocwen over massive fees

IFAs are challenging Ocwen to justify why it is paying brokers up to £7,500 commission on its mortgages which all have eight year redemption penalties.The sub-prime lender is under fire for tempting brokers with exorbitant procuration fees and locking borrowers into mortgage rates which can be as high as 5 per cent above base rate […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm