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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Just a third of pensions trustees conduct a competitive tender before asking their investment consultant to act as a fiduciary manager for client assets, according to an investigation by the Competition and Markets Authority. The CMA has released the findings of its inquiry into the investment consultant sector this morning, revealing that some trustees have […]
Ex-Zurich UK life chief operating officer David Etherington has decided to step down from the board of support service provider SimplyBiz, the firm has announced. Etherington, who was also formerly chief growth officer at Zurich after heading up distribution as COO, has been a non-executive director at SimplyBiz since 2015. In an announcement this morning, SimplyBiz […]
The entire ordinary share capital of platform and fund provider AJ Bell has now been admitted to the London Stock Exchange, the firm has announced. Following the firm’s decision to set a price for its initial public offering last week, it has confirmed this morning that its entire ordinary share capital, consisting of 407,055,994 ordinary shares […]
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