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IFA firm chief joins Torquil Clark

Former proprietor of the fee-based IFA Gee & Company Philippa Gee has joined Torquil Clark as relationship manager. Her responsibilities will include commenting to the press on investment and other financial issues.

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NU calls for stakeholder rules rethink over with-profits loans

Norwich Union is calling on the Government and regulator to change stakeholder rules to allow ringfenced with-profits funds to borrow from established funds if they fail to meet their guarantees.The change would allow two-way traffic between the new ringfenced policy and the life office&#39s existing with-profits funds or free assets in the form of loans. […]

Leeds & Holbeck increases Step-up Saver limit

Leeds & Holbeck Building Society is increasing the maximum balance on its Step-up Saver account from £5,000 to £10,000 following strong customer demand.The account offers a fixed rate of 5 per cent until September 2002, then 6 per cent until June 2003, and allows one withdrawal without notice or penalty.Leeds & Holbeck head of marketing […]

Mutuals lag behind as mortgages soar

Mortgage lending in April was at its highest level since records began in 1998, according to monthly figures from the Council of Mortgage Lenders.Strong house-buying activity last month resulted in total gross lending rising to £12.6bn from £12.2bn in March and £9.2bn in April 2000.But Building Societies Association figures show gross lending by mutuals fell […]

Investment trust Isas up over year

Investment trust Isa purchases rose by 36 per cent over the last tax year, up to £206m for the 2000/2001 tax year from £152m for 1999/2000.But investment trust Isa purchases in the first quarter of 2001 were down 27 per cent at £59 million, from £81m in the first quarter of 2000.AITC communications director Annabel […]

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