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Lenders follow MPC lead and cut rates by 0.25 per cent

Major lenders are cutting their standard variable mortgage rates by 0.25 per cent mirroring the Bank of England&#39s Monetary Policy Committee&#39s base rate cut.


Halifax and Cheltenham & Gloucester&#39s new rate is 7.45 per cent. The cut takes the Nationwide&#39s rate to 6.95 and Royal Bank of Scotland&#39s to 6 per cent.

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CIS sees new premiums up by 23 per cent

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 […]

Lenders reluctant to predict floor for rate cuts

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&#39s 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: […]

CIS urges 80,000 Pep investors to switch to its ISAs

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 […]

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