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Derbyshire launches ten-year fixed rate mortgage

Derbyshire Building Society has launched a new ten-year fixed rate mortgage with a rate of 5.24 per cent until 2012.

With an APR of 5.70 per cent it says this is among the best longer term fixed rates on the market.

On the new product Derbyshire is waiving the mortgage valuation fee, interest is calculated daily and there are no early repayment charges after the fixed rate period. The mortgage is also fully portable.

The maximum loan to value is 80 per cent and there is an application fee of £195 for qualifying existing members and £295 for other applicants.


Northern Rock Lowers Rates

Northern Rock has lowered its rates for fixed and capped mortgages.The range of new products launched by the bank offers reductions of up to 0.7 per cent compared to the range launched at the end of August.Northern Rock&#39s standard two year fixed rate mortgage is available from 1.99 per cent a year with flexible fixed […]

CA claims five million have been missold endowments

The Consumers&#39 Association has started its endowment-action campaign to help the five million people it claims have been missold endowment policies.The survey also shows that only 4 per cent or 330,560 endowment policyholders have made a formal complaint over misselling.A website has been created at to help people determine whether they have been missold […]

A&L rejects centenarian&#39s cash

An IFA has hit out at the inflexibility of the FSA&#39s money laundering rules after a 101-year-old client&#39s £170,000 investment in a two-year fixed-rate bond with the Alliance & Leicester was refused.Croydon IFA Dennis Munday says centenarian Phyllis Grogan had her application turned down because of insufficient identification.Mrs Grogan&#39s nephew, a senior partner of Streeter […]

James Hay sees Sipp market share grow to 37 per cent

James Hay now has 37 per cent of the SIPP market, with over £6.5bn of funds under administration and over 26,000 SIPPs. James Hay says this now makes it the largest SIPP provider in the UK.Manes Hay managing director, SIPP Division Jan Regnart says: “The popularity of SIPPs has grown dramatically over the last six […]

The Rubik’s Cube: China’s policy trilemma

By Douglas Turnbull, Investment Director, Head of Chinese Equities China faces a ‘Rubik’s Cube’ policy trilemma, whereby it needs to sustain a minimum acceptable level of growth, deal with issues such as overcapacity and reform the financial system to make it a far more efficient allocator of capital. Given the contradictory nature of these objectives, […]


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