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Chelsea cuts interest rate

Chelsea Building Society is cutting its standard variable rate by 1.5 per cent from 6.49 per cent to 6.34 per cent with effect from September 30.

The cut follows the 0.25 per cent cut in the Bank of England base rate announced last week.

Chelsea is now offering three new fixed rate products, all fixed until February 2004. The 4.64 per cent fixed rate is available for loans from £30,000 to £1m, with a 3 per cent early repayment charge until February 2007.

The 5.24 per cent fixed rate is available for loans from £30,000 to £250,000, with a 3 per cent early repayment charge until February 2004.

The 5.54 per cent fixed rate is available for loans from £20,000 to £!m, with a 3 per cent early repayment charge until February 2004.


Life on Mars as 150 funds get on board

Old Mutual&#39s multi-manager platform, codenamed Project Mars, will offer more than 150 funds from 24 providers at launch in a bid to rival Skandia. The new platform, to be named on October 1, will include funds from Aberdeen, Artemis, Credit Suisse, Deutsche, Dresdner, Framlington, Friends Provident, Invesco Perpetual, Investec, Liontrust, Merrill Lynch, Newton, Old Mutual, […]

Independent view

“Oh, so you are an IFA – what do you actually do all day?”“You shouldn&#39t listen to my secretary&#39s gossip, those three-hour lunches are planning meetings, you know.” I had started the reflex defence move before realising that, for once, the enquirer was not having a go at me. She was from outside our industry […]

Aberdeen Murray Johnston Private Equity – Aberdeen Growth Opportunities VCT

Tuesday, 25 September 2001.Aim: Growth by investing in smaller unquoted companies in the UK.Minimum investment: £3,000.Opening-closing date: September 27, 2001-April 5, 2002.Charges: Annual 2 per cent for the first year, 2.5 per cent thereafter.Commission: Initial 3 per cent, renewal 0.5 per cent for investments £500,000 or above.Tel: 0845 3002830.

Paying the price for mediocrity

Further to Peter Hargreaves&#39 letter headlined ICS missed point of Towry Law deal, I would like add that I believe he is correct in his assessment and share his view that the deal is wrong. The liquidation of Advizas was the most likely outcome of the situation for some time during the protracted discussions that […]


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