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GMAC-RFC drops 25 year fix

Lender GMAC-RFC is dropping its 5.59 per cent 25 year fixed rate mortgage blaming a lack of interest in the long term fixed market.
GMAC-RFC head of marketing services Jeff Knight says the company decided to market-test the product to see whether there was enough appetite for long term fixes in the market. Following little interest the lender has decided to withdraw the product from its range.


CII and BIBA team up for training programme

The CII British Insurance Brokers&#39 Association are teaming up to provide a regional training programme for members of both organisations and the wider industry. A series of 13 training courses ranging from &#39Appraisal Interviewing&#39 to &#39Business Interruption&#39 are being held at locations around the UK from April 29 to June 25. The courses will cover […]

Equitable won&#39t sue Govt

Equitable Life has ruled out suing the Government for regulatory failures after legal advice that it has no realistic claim. Law firm Herbert Smith has told the firm it has “no realistic claims against the regulators” and that any claim by policyholders would be “complex, lengthy and costly”. The Serious Fraud Office is understood to […]

Bill for common law couples will change industry

The Civil Partnership Bill launched last month will have wide-ranging implications for the financial services industry, says Nunwood Consulting. The bill will change the nature of financial products and will also alter the relationship between samesex couples and financial providers Nunwood says. The consultancy has set up a major research project to consider what impact […]

Recruiting campaign

Standard Life is believed to be considering replacing finance director John Hylands as it moves to position itself for demutualisation. It refuses to comment on the claim but reports suggest that while a decision has not been made to rep-lace Hylands, feelers have been put out to see whether replacements are available. Standard has confirmed […]


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