Major lenders are cutting their standard variable mortgage rates by 0.25 per cent mirroring the Bank of England's Monetary Policy Committee's base rate cut.
Halifax and Cheltenham & Gloucester's new rate is 7.45 per cent. The cut takes the Nationwide's rate to 6.95 and Royal Bank of Scotland's to 6 per cent.
Coventry Building Society has rejected a move by butler and self-proclaimed carpetbagger Michael Hardern to become a director of the building society to force its conversion to a listed company.Hardern has stepped up his campaign to compel the biggest building societies to convert to banks. He is targeting seven societies this year: Britannia, Chelsea, Coventry, […]
Co-operative Insurance Society says the premiums it took from new life assurance, pension and unit trust business increased by 21 per cent to £231m in 1998.It says the highlights of the year were the 38 per cent increase in sales from its unit trust arm and the successful launch in July of its new with-profits […]
Major lenders are reluctant to predict when they are likely to stop passing on the benefits of base rate cuts to borrowers.Following the Bank of England's 0.25 per cent cut lenders such as Nationwide and Cheltenham & Gloucester immediately cut their standard variable rates by the same amount.Cheltenham & Gloucester press officer Peter Mounty says: […]
Co-operative Insurance Society is advising their 80,000 customers with unit trust PEPs to switch to one of their ISAs so that they can continue to save tax-free after next April.The CIS ISA consists of a maxi and three mini accounts. Investors will be able to choose from a deposit account at The Co-operative Bank, three […]
Employees at Johnson Fleming, in Bromsgrove, Worcestershire, are looking forward to trying out some dramatic new hairstyles on Wig Wednesday. A host of colourful wigs will brighten up the office on 20 May as staff support children and young people with cancer.
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Fiducia managing director on ‘good old-fashioned’ customer service in the digital world Anthony Scott is adept in the art of communication. As an adviser and a novelist (he has written the novels ‘On Ashover Hill’ and ‘The Birthday Gift’) it is crucial for the Fiducia Group managing director to engage and build a rapport with […]
The FCA has reiterated its warnings that advisers outsourcing defined benefit transfer advice to firms with relevant qualifications cannot divorce themselves from responsibility for the eventual recommendation. While existing FCA rules require additional qualifications to advise on DB transfers, and the FCA has written to all firms who have DB transfer permissions as part of […]
The Liberal Democrats have branded the government’s decision to delay a pot follows member pension system “incompetent”. The Liberal Democrat spokesman for work and pensions Stephen Lloyd MP says the move by pensions minister Guy Opperman shows how “rudderless” the current government is on pensions policy. Last October Opperman suggested the pot follows member initiative […]