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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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Coventry Building Society rejects Hardern overture

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, […]

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 […]

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