View more on these topics

Chelsea introduces new rates

Chelsea Building Society has announced new two, three and five year and buy to let mortgage products.

New rates of 4.84 per cent for two years, 4.99 per cent for three years, 5.29 per cent for five years and 5.89 per cent for five years buy to let, came into effect on May 1.

Existing fixed rate products of 4.42 and 4.64 per cent for two years, 4.99 per cent for three years, 5.19 per cent for five years and 5.79 per cent for five years buy to let have been withdrawn.

Chelsea has also announced that Richard Hornbrook will be the new chief executive designate when Michael Bage retires. Hornbrook will take over at the beginning of 2005. He is a chartered accountant and currently director and general manager, having been at the company since 1981.

Hornbrook says: “Michael will be a hard act to follow. The society is in great shape and I consider it an immense honour to have been given this opportunity and I am looking forward to the new role.”


Kenmir says FSA stands by promise to IFAs

The FSA should be taken to task if it tries to place a retrospective review on IFAs,says managing director David Kenmir. Speaking at the Money Marketing IFA round table last week, Kenmir said it would stand by its promise to deal with IFAs on the basis of the standards current at the time that the […]

Pru launches DB protection scheme

The Prudential has launched a new platinum protection pension scheme aimed at protecting final salary or defined benefit of pensions of employees transferring under the TUPE agreements from the public to the private sector. The scheme aims to protect people who have been members of a public sector scheme. It provides certified benefits similar to […]

&#39UK ready to meet EU insurance standards&#39

UK insurance companies will have a significant advantage over their European rivals when it comes to implementing new EU-wide reporting standards, according to a report published by analyst Fitch this week. The principal advantages of the forthcoming International Financial Reporting Standards, which aim to provide an EU-wide set of standards for insurance companies, include transparency, […]

Towry Law Intl could face £300m misselling claims

Towry Law&#39s offshore subsidiary is facing legal action that could result in compensation of more than £300m. Clients in Cyprus, the Middle East and Asia have alleged that Towry Law International missold hedge funds and geared with-profits bonds. An action group of clients in Cyprus has started legal proceedings against TLI. It argues that the […]

Unfinished business?

Pension specialist Fiona Tait gives an update on three big announcements from the 2016 Budget – Pensions Advice Allowance (PAA), the Lifetime ISA (LISA) and the pension dashboard. £500 Pensions Advice Allowance What’s new Under current rules it is possible to deduct an adviser charge from a defined contribution pension fund to pay for financial […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment