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Chelsea Building Society revises product range

Chelsea Building Society has made revisions to its product range with effect from November 30.

It says that all mortgages, except those in the non-conforming prospect range, will have end dates and associated ERC dates extended to February 1.

Other product highlights include a 4.99 per cent two year fixed rate with percentage fee increases by 0.20 per cent and all tracker mortgages have had their rates increased by 0.30 per cent.

Chelsea says that all applications for existing products must be received by close of business on November 29.


Virtue of Paragon

The fact that Paragon’s warehouse lines were due to roll over in February has been well known for some time, so its half-year announcement should have come as no surprise. The near halving of its share price as a reaction shows yet again that common sense has gone walkabout. The position was compounded by the latest update from Northern Rock and the Treasury. The odds on Chancellor Alistair Darling presenting the next Budget must be shortening by the second.

Something to celebrate

Thanksgiving is a time of celebration in the US and for investors looking at the world’s biggest economy, there could be rich pickings among the sub-prime gloom.

Skills for success

The UK has arguably the most sophisticated financial system in the world.


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