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Leeds & Holbeck launches flexi-capped mortgage

Leeds & Holbeck Building Society is launching a hybrid flexible mortgage capped at 6.39 per cent for three years.

The loan, which has a 1.4 per cent discount for the first six months, gives an initial interest rate of 4.99 per cent before switching to the capped rate until November 2004.

After the special period, the mortgage reverts to the society’s variable rate of 6.59 per cent. Borrowers can make unlimited capital repayments and pay no redemption penalty at any stage.


Bonus of contention

The recent bonus cuts from Equitable Life came aslittle surprise to most of the industry which has been well aware of the company&#39s inflated payout policy which has left it with no reserves.Throughout Equitable&#39s demise, there have been cries from other with-profits life offices about its unsustainable bonus rates.But when companiesthe size of Norwich Union, […]

Making a splash

This year&#39s Skandia Life Cowes Week is proving to be a rec- ord-breaking event with more than 1,000 boats and around 17,000 peopletaking part in the regatta. The event, taking place from August 4-12, has the highest-ever number ofentrants, inclu- ding four Skandia-sponsored boats. The biggest boat taking part is the Skandia Leopard, a 90ft […]

PIA revokes firm&#39s suspension over PI

The PIA has revoked the suspension of IFA Blenheim Financial Services ofBidmead, Gloucestershire. The firm had been forced to cease conductinginvestment business regulated by the PIA because it had failed to renew itsPI cover. The PIA has suspended 16 firms for failing to renew their PIcover so far this year.

Jupiter expands its hedge fund range

Jupiter International Group is hedging its bets with the introduction of the Jupiter fund of hedge funds.This is Jupiter’s first fund from the recently arrived management trio of John Chatfeild Roberts, Peter Lawery and Algy Smith-Maxwell, who joined Jupiter from Lazard in March 2001. At Lazard they were responsible for managing the Lazard PPF astral […]

When is £1m not £1m?

Neil Jones is technical support manager with Canada Life’s ican Technical Services Team. Canada Life offers a range of wealth management solutions, including retirement income planning, estate planning and investment solutions from a choice of jurisdictions, including the UK, Isle of Man and Republic of Ireland. The residential nil-rate band (RNRB) was first announced in […]


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