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Chelsea BS steps into line with rate cut

Chelsea Building Society has announced it is reducing its Standard variable rate 0.10 per cent to 5.59 per cent from 5.69 per cent.

The move comes in response to the surprise decision by the Bank of England&#39s Monetary Policy Committee to cut its Base Rate to 3.75 per cent from 4 per cent earlier in the month and follows similar action from the majority of high street lenders. The CBS rate cut will apply to all of its products linked to its SVR.

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Towry Law offering hybrid loan with fix and discount

Towry Law Mortgage Services is offering an exclusive hybrid mortgage combining an initial fixed rate followed by a discount.The product has a one-year fix at 3.59 per cent followed by a 1 per cent discount off the standard variable rate – giving a current rate of 4.75 per cent – for the following year.The IFA […]

Bamford blasts FSA as his PI cost soars

Sofa chairman and Informed Choice director Nick Bamford is blaming the FSA for the PI insurance crisis.He has finally secured PI cover but his premium has soared to £28,875 from £7,950 last year and from just £2,750 in February 2001. The excess has risen to £15,000 per case from £10,000 last year despite no claims […]

Don&#39t wait for the Green light

I understand the Government has issued a Green Paper on pensions. Is there anything in it that should change our mind with regards to the proposed transfer of my wife and myself from our self-administered pension scheme to a self-invested personal pension? The situation today is that, after a great deal of reorganising, we have […]

Emerging influences

International political developments will play a major part in stockmarket trends.US domestic consumption trends will also continue to have a major impact on the economies of emerging, as well as developed, countries. The prospect of further debt defaults remains as many governments in emerging markets find fiscal discipline difficult.But there are some positive signs that […]

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