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Lenders move to pass on rates

The major high street lenders moved quickly to announce a cut in rates following the Bank of England Monetary Policy Committee&#39s rate cut.

Abbey National has reduced its standard variable rate by 0.25 per cent to 7 per cent.

Nationwide has also passed on the full 0.25 per cent cut to its base mortgage rate, now 6.49 per cent.

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ABI in talks to stop big medical report fee rises

The ABI is battling with the British Medical Association to stop an increase in medical report fees which could see the price of life insurance and critical-illness cover premiums rocket. The ABI is meeting this week with the BMA, which is planning to more than double the fee for a gen-eral practitioner&#39s report from £30.10 […]

Standard Life asking for retrospective ID checks

Standard Life is asking IFAs to identify term insurance clients going back to 1994 because it did not realise it was included in recently adopted FSA moneylaundering rules. New powers adopted by the FSA from previous regulators means an identification certificate is required for all term cases written from April 1994. Standard is mailing IFAs […]

SocGen joins the bond band

SocGen Asset Management has entered the corporate bond fund market for the first time with a sterling corporate bond unit trust. The fund will invest in a portfolio of 40 to 50 corporate bonds issued by UK companies. At least 80 per cent of the fund will be invested in corporate bonds with a rating […]

ABI publishes income protection best practice statement

The ABI is publishing a revised statement of best practice for income protection insurance to deal with the concerns of the Office of Fair Trading. The statement also includes an ABI Saltr raising standards initiative compliant key features document for income protection.

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