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First Active to sell mortgages over the internet

First Active plans to sell its mortgages over the internet later this year according to the Financial Times.

The lender which specialises in flexible mortgages, says its site will provide customers with the opportunity to specify their individual requirements.

But First Active is still considering whether it will offer lower borrowing rates to those customers using the internet service.

It claims that while the net offers savings in terms of administration costs the benefits could be wiped out by the increased cost in advertising.


Guernsey bank deposits increase

Deposits in Guernsey banks increased 4.7 per cent during the second quarter of 1999 according to figures released by its Financial Services Commission.Deposits grew by £2,541m to £56,581m for the three months to June 30, 1999, up from £54,040m the previous quarter.Director of Banking Philip Marr says: &#34Once again we have seen strong underlying growth […]

IFAs must become asset managers

IFAs must become asset managers drawing performance-related pay if they are to survive in a rapidly changing marketplace, according to a report by PricewaterhouseCoopers..This giant accountant and consultancy&#39s draws the conclusion in its Investment Management Survey which examines the state of the investment management industry in the UK and Ireland.The report says to remain competitive […]

Misys buys Financial Options for £40m

Misys has confirmed it is to buy IFA networks Financial Options and Kestrel for £40m.Software giant Misys already owns rival network Countrywide and the move will create the UK&#39s largest IFA with more than 1,300 member firms and more than 2,700 registered individuals.The acquisition means Misys group is likely to gain from increased distribution of […]

North east law firm recruits financial planning team

North of England law firm Dickinson Dees has recruited five financial planning consultants from accountants Arthur Andersen.The team&#39s appointment will enable the firm to offer its clients full in-house independent financial advice.The team will be headed by David Dale who previously headed Arthur Andersen&#39s north of England financial planning division.The appointment of the team is […]


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