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Chelsea posts 12 per cent rise in gross lending

Chelsea Building Society saw its gross lending increase 12 per cent to £739m in 1998.

Retail funding was up 13 per cent to £448m. Its assets were up 15 per cent to £4202m. Pre-tax profits were up 12 per cent to £33.5m.

Chief Executive Michael Bage says: &#34In a subdued market, the society lent a record £739m on mortgages, while savers&#39 balances grew by almost £450m. Both figures are significantly better than proportional market share.&#34


Mortgage 2000 calls for apr to be scrapped

Mortgage 2000 is calling on the industry to abolish the use of annual percentage rate as a method of product comparisons.Director Simon Nixon says the industry would give better service to the consumer by providing true cost comparisons that took into account all costs associated with a mortgage.He says: &#34It has been plain to see […]

Surrey firms successfully appeals PIA suspension

The PIA has revoked an intervention notice banning a Surrey firm from carrying out investment business after a successful appeal to the Membership and Disciplinary Tribunal. Millers Financial Services of 345 Whitehorse Road, Croydon, Surrey was suspended on February 24 1998 the after the PIA said &#34it appeared that it had ceased to be fit […]

Aon sponsors golf event for charity

Aon Consulting is sponsoring the London Sports Forum for Disabled People&#39s charity golf day in July.Last year the event raised more than £4,000 for LSF and the pensions IFA is hoping that this year&#39s event will raise the same amount.The event costs £99 to enter and all profits go to LSF.

MGM Assurance expands IFA sales team

MGM Assurance is expanding its IFA sales support team as part of a drive to increase its presence in the IFA market. The support team will provide quotation and enquiry handling, retirement planning reports and centralised administration. The mutual is also undergoing a rebranding and is running an advertising campaign focusing on its image.


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