Mortgage rates have been cut by two major high street lenders following the 0.25 per cent fall in bank base rate.Alliance & Leicester and Nationwide are cutting rates on a selection of mortgages. A&L is reducing its standard variable mortgage rate by 0.25 per cent to 6.59 per cent, equivalent to a 7 per cent APR. The rate is effective from August 15 for new borrowers and from September 2 for existing borrowers. A&L mortgage products tracking the Bank of England base rate WILL also change. Rates for new borrower products fell by 0.25 per cent last week and existing borrower products will see a fall from September 1. Nationwide is dropping the rate on its tracker and base rate mortgages by 0.25 per cent and 0.10 per cent respectively. Its base mortgage rate will now be 5.89 per cent. These rates apply to new and existing borrowers and are effective from September 1. Nationwide says its rates are under general review and further amendments will be announced.
1st, the technology provider for 11,000 advisers, has bought back the 28.6 per cent share of its business owned by Misys for an undisclosed fee. The deal continues Misys’ retreat from the IFA arena after last month’s provider buyback of the company’s 60 per cent stake in Assureweb and the appointment of Lexicon Partners to […]
The US Federal Reserve’s to lift interest rates, in stark contrast to the Bank of England’s cutting strategy, has not surprised industry experts. Last week, the Fed increased rates by 0.25 per cent for the 10th consecutive time to 3.5 per cent. F&C head of strategy Paul Niven says the market expects increases of 0.25 […]
The court will take into account all the assets of a married couple when deal- ing with their divorce. We can consider each of them in turn and then return to them collectively.
With the Ashes in mid-flow, it seems timely that Phoenix, the PR boutique set up by former Quill Communications partner Gordon Puckey three months ago, has signed up Aussie Lauren Stewart from Schroders. Stewart’s flight to Phoenix gives Puckey an excellent opportunity for a bit of rare Aussie-baiting should Freddie and co continue to deliver. […]
In the five years since we launched the Artemis Global Income Fund, its manager Jacob de Tusch-Lec has built a distinctive portfolio that is first among its peers. Here he explains why his “quality, cyclical and value yield” stocks, and flexible approach, leave the fund better placed to benefit from uncertainty than funds that depend […]
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BMO Global Asset Management fund manager Robert Burdett has more than halved the exposure to passive funds in most of the multi-manager funds amid fears of a bubble in the market. Burdett, who co-manages the £1.2bn F&C MM Navigator Distribution fund with Gary Potter, says the team has been cutting exposure to passive funds across […]
Opinion differs as to what has caused the advice gap. Some believe the move from commission to fees has made advice unaffordable for the mass market, with advisers having to focus on wealthier clients for commercial reasons, while others say the trend was happening anyway, regardless of the RDR. For Simplified Money director Lesley James, […]
Sales of protection policies are back at peak levels, with the sector growing by more than 20 per cent in the past year, despite adviser complaints over protection’s lack of popularity. According to the latest figures from Equifax Touchstone, sales of protection policies surpassed £149m between July and September this year — their highest level […]