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Halifax cutbacks estate agency arm

Halifax is to sell off 224 of its 618 estate agency offices around the country.

Initially Halifax will close estate agency branches in towns where there is both a banking office and an estate agency.

The current branding of Halifax Property Services will disappear with all offices branded under the corporate Halifax name.

The decision could put up to 1,500 full and part time jobs at risk. The slimming down process is expected to take a maximum of six months.

At the end of the process the bank estimates it will have an equivalent full time workforce of 2,600 down from the present full time complement of 3,600.

The move is part of a corporate strategy focusing on the long term future of the bank. It wants to be less reliant on the housing market.


C&G launches new mortgage range

Cheltenham & Gloucester has launched a range of new fixed and capped rate mortgages.Borrowers can choose between terms of two, three, five or seven years fixed at 5.79 per cent up to 90 per cent of valuation or 5.99 per cent up to 95 per cent of valuation.Borrowers can choose to cap their loans at […]

Bank of Scotland appoints third party fund administrators

The Bank of Scotland has appointed specialist third party fund administrators Mellon Fund Administration to run its Open ended investment company.Mellon will be responsible for dealing, registration and fund accounting for the new &#39Investors Club&#39 Oeic launched by the bank on March 1.The administrators will also be responsible for the Bank Of Scotland Isa.The launch […]

Cheltenham & Gloucester increase interest rates on its Isas

Cheltenham & Gloucester has increased the interest rates on its Cash and Tessa only Isas.The move sees the interest rate increase by 0.75 per cent to 6.25 per cent from 5.5 per cent.The rate change applies from May 8. It is guaranteed to be the same as the banks base rate until January 1, 2000.

CGU announce 12 per cent increase in worldwide life profits

ac/cgu/13/5 86 wordsCGU has posted a 12 per cent increase in worldwide life profits for the first quarter of 1999 The unaudited profits for worldwide life business showed an increase of £16m up to £124m from £108m for the first quarter of 1999 compared to the same period of 1998.UK life profits increased by 11 […]

Tax year-end planning for annual allowance

Last tax year-end there was a lot to think about in relation to planning. The introduction of the tapered annual allowance and the implications of moving to a fixed pension input period, the reduction in the lifetime allowance and potentially applying for protection, and the concern about changes to tax relief, to name a few. […]


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