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Leek pours cold water on windfall promises

Leek United Building Society has attacked suggestions carpetbaggers will be rewarded with windfalls of up to £950 if a takeover bid by Murray Financial is successful.

Society chief executive Neil McFadden says it is impossible to predict payment levels with any accuracy and has slammed windfall figures of between £475 and £950 being touted as misleading.

Murray Financial is making a £30.5m hostile bid for the mutual.


Mortgage providers hold fire over rates rise

The major mortgage lenders have held back from immediately raising their lending rates despite the 0.25 per cent increase in the base rate by the Bank of England.Nationwide says: “We have to consider the needs of our savers and our borrowers very carefully.” The Halifax says it is still reviewing its rates.The B of E […]

Halifax and Nationwide push up mortgage rates

Following on from Abbey National, Halifax and Nationwide have announces they are also raising their standard variable mortgage rate by 0.25 per cent. The Halifax rate will rise to 7.24 per cent from 6.9 per cent with immediate effect for new customers and from December 1 for existing borrowers.Nationwide has pushed up its rate to […]

IFAs just can&#39t be trusted – new survey

IFAs are less trustworthy than estate agents and bookies – according to most respondents of a new survey by The Motley Fool internet website.An IFA&#39s impartiality and ability to give independent help is compromised by the levels of commissions they get paid, according to about 60 per cent of the 1,000 people asked in the […]

Lords rejects pensions bill again

The stakeholder launch is in serious jeopardy because of the &#39ping-pong&#39 political battle being fought over the Welfare Reform and Pensions Bill.The stakeholder legislation is part of a controversial bill rejected for a second time by the House of Lords yesterday because of Government plans to cut disability benefits.The Commons has made room for a […]


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