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Grant Thornton tells borrowers to be wary of fixed-rate mortgages

Accountant Grant Thornton is warning fixed-rate mortgage buyers that they could be big losers if Britain joins the single European currency.

If the UK joins Monetary Union, Grant Thornton says current interest rates of around 7 per cent will have to fall to around 4 per cent to be in line with the rest of Europe.

Grant Thornton EMU partner and EMU spokesman Stephen Dexter says: &#34Looking to Europe, fixed-rate mortgage holders could be left in an unenviable situation. Home buyers should keep their options open and ensure they are not locked into a scheme for too long.&#34


Davies warns that FSA could be left in limbo without legislation

The FSA has warned that it will struggle to operate unless the bill placing it on a statutory footing is in the Queen&#39s Speech next month.The Financial Services and Markets Bill would free the FSA from their interim position and provide them with extensive powers to demand information, mount prosecutions and fine banks and brokers.FSA […]

Hymans Robertson to survey civil servants&#39 attitudes to pension fund

The Cabinet Office has appointed Hymans Robertson to assess civil servants&#39 attitudes towards their pension provision and a new pension scheme for the millennium.The consultant is designing a questionnaire to survey the 500,000 members of the existing scheme about their pension arrangements.


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