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Clerical chief Walther set to retire

Clerical Medical chief executive Robert Walther is retiring before the end of theyear. He will be replaced by managing director John Edwards. Walther has been overseeing the integration of Equitable Life with the Halifax group after Edwards was made MD in February.

Walther, 57, has been with Clerical since 1965 and was made chief executive in 1995. Edwards, 45, joined Clerical in 1993 and has been a board member since 1998.


Scottish adds Scotland-only mortgage

The Scottish Building Society joins Dunfermline Building Society in offering a mortgage for properties solely in Scotland.The Scottish flexible mortgage has a discount of 2 per cent for the first six months of the loan, giving it a payable rate of 4 per cent for loans of up to 90 per cent of valuation.The mortgage […]

Omo move could hit annuity rates

FSA plans to force life offices to highlight the open market option on annuities may see normal annuity rates fall, according to Institute of Actuaries president Peter Clark.The forecast follows FSA plans to compel insurance companies to clearly promote policyholders&#39 rights to shop around for the best annuity rate ahead of making their buying decision. […]

L&G offers 5.75 per cent on new account

Legal & General has launched a new fixed rate savings account with an interest rate of 5.75 per cent gross.The Term Savings Account – Issue 8 opens for investments this month and the rate will be fixed for one year after the account is set-up.Accounts can be opened with a minimum deposit of £2,500 and […]

Pink looks at self-cert market

Pink Home Loans has introduced the exclusive self-cert discount mortgage, which is aimed at the self-employed.Funded by The Mortgage Business, the mortgage has a fixed rate of 6.65 per cent until November 30, 2004. Applicants are allowed up to three county court judgements against their name, subject to a total maximum of £1,000, and up […]


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