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Hargreaves calls on investors to delay ISA decision until May

Investment IFA Hargreaves Lansdown is advising clients to put off investing in an ISA until at least one month after the official April 6 launch date.

It says it has watched with &#34abhorrence&#34 the attempts to lure investors into a commitment to an ISA using incentives and pre-marketing.

The IFA is very concerned that with only twenty players currently offering ISA products only 2 or 3 per cent of the eventual market may be currently available.

Hargreaves Lansdown managing diretor Peter Hargreaves says: &#34It is only by firm condemnation from brokers that the last Pep season will not become a fiasco with the waters well and truly muddied by bribing investors into buying ISAs from a very restricted range.&#34

Hargreaves is also concerned that with Jupiter and HSBC recently throwing their hats into the ring, other major players will also be encouraged to reveal plans, confusing investors still further.


MPC cuts interest rates by 0.5 per cent

The Bank of England Monetary Policy Committee is cutting interest rates by 0.5 per cent.The fifth consecutive cut brings rates down to 5.5 per cent. The decision has been welcomed by the Council of Mortgage lenders.CML director general Michael Coogan says: &#34While there is some question about how much further rates can fall this latest […]

Paragon cuts rates by up to 1 per cent

Paragon Mortgages hopes to grab a bigger slice of the buy-to-let market by slashing mortgage rates by up to a percentage point.The phone-based mortgage provider is offering new three, five and 10-year fixed mortgages, each at 7 per cent APR. Previously three and 10-year rates were 8 per cent APR and five-year rates were 7.9 […]

Egg cuts rate to 6.25 per cent

Prudential&#39s direct banking arm Egg has cut the interest rate on its savings account to 6.5 per cent from 7.25 per cent in keeping with its guarantee to maintain it at 0.5 per cent above the base rate.The revised savings account rate with cashcard is now 6 per cent. It was previously 6.75 per cent.Egg […]

Treasury Select Committee to report on FSA this week

The Treasury Select Committee is due to publish its report on the Financial Services Authority entitled &#39Financial Services Regulation&#39 on Thursday this week.The committee interviewed FSA chairman Howard Davies and Treasury economic secretary Patricia Hewitt in December last year.


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