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Chelsea BS cuts rate on two-year fixed to 1.69%

Chelsea Building Society has cut its two-year fixed rate to 60 per cent loan-to-value by five basis points to 1.69 per cent.

The direct-only product comes with a £1,545 fee and reverts to the lender’s standard variable rate, which is currently 5.79 per cent.

The cut comes four days after Tesco launched its lowest ever two-year fixed rate at 1.74 per cent, up to 60 per cent LTV.

Chelsea has also cut its five-year fixed rate deal from 4.34 per cent to 4.29 per cent for loans at 90 per cent LTV.

Chelsea product manager Brendan Gilligan says: “We remain committed to providing borrowers with exceptional mortgage rates and have made these reductions to two of our most competitive deals.”


Labour calls for ‘renewed focus’ on pension decumulation

Labour has called on the industry to focus on improving the decumulation phase of retirement as part of a drive to boost pension outcomes for consumers. The Financial Conduct Authority is currently undertaking a review of the annuities market due to concerns people are failing to shop around when they reach retirement. In March, the […]

FCA seeks to ban and fine non-exec £154k over conflicts of interest

The Financial Conduct Authority is looking to ban and fine a non-executive director £154,800 for failing to disclose conflicts of interest. The regulator has published a decision notice against Angela Burns for failing to act with integrity as a non-executive director at two mutual societies. Burns has referred the matter to the Upper Tribunal. Burns […]


Aegon moves ARC platform admin in-house from Novia

Aegon is taking the administration for Aegon Retirement Choices in-house as it reduces Novia’s role within the platform. Novia has provided administration and development services since the soft launch of the platform in November 2011. Administration will now be taken within the Aegon business in a phased handover to be completed by the end of […]

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Considerations for overseas workers in Germany

With Germany’s strong economic growth leading the eurozone’s recovery, many UK businesses are keen to be part of the success story: recent data shows that there are currently more than 280,000* employees working for a UK-controlled company in the country.


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