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Halifax merger with Bank of Scotland cleared

The £30bn merger between Halifax and Bank of Scotland has been given the all-clear by trade and industry secretary Patricia Hewitt.

In a move to create a rival to the big four British banks, Hewitt gave the go-ahead last week after expressing her satisfaction the deal does not present any competition concerns.

She said the merger differed from the blocked Lloyds TSB bid for Abbey National as it could potentially bolster competitive pressures in the banking sector.

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Halifax has effectively pulled out of the remortgage market by drasticallybumping up its fixed and discount rates in a move echoing that of rivalNationwide. Halifax, the UK&#39s biggest lender, has heaped increases of nearly 0.5 percent on its flagship remortgage products this week, which leaves IFAs withno option but to recommend deals of more competitive […]

Inscape takes a sipp at the pension market

Inscape, the investment management arm of Abbey National, has brought in the Inscape self invested person pension plan (Sipp).A full Sipp, the product is aimed at existing customers of Inscape who have an initial amount of at least £2,000 to invest in a pension that allows them control over where their money will be invested. […]

Premier zeros in

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NDF Administration – Extra Income & Growth Plan 7

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