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L&G Mortgage Club fixes loan at 3.99%

Legal & General&#39s Mortgage Club is offering a two-year fixed-rate loan set

at 3.99 per cent, which it claims is currently the lowest in the market.

The loan is fixed until June 1, 2002 and is available up to 90 per cent

loan to value. There is a pledge that the rate is guaranteed to be no more

than 1.99 per cent above the Bank of England base rate during the early

repayment charge period after the fixed rate ends.

Borrowers can repay up to 15 per cent of the ori- ginal balance in each

calendar year with no early repayment charge. There is also a cashback of


L&G&#39s mortgage adviser and estate-agency network totals around 1,500.

Membership of its Mortgage Club includes about 2,000 independents.


Tale of two necessities

Over the next 16 months, every employer with at least five employees mustchoose between facilitating stakeholder or offering a different pensionscheme to employees. For small and medium-sized employers, the choice islikely to be between stakeholder and group personal pensions.As each month goes by, the issues which unite and separate stakeholder andGPPs become a little clearer […]

Standard Life gives Woollard platform

Standard Life has offered carpetbagger Fred Woollard a 500 word platform to make his case for demutualisation.The company plans to write to its 2.3m policyholders next month to make its case for retaining its mutual status. Woollard had requested access to Standard Life&#39s list of policyholders but, the company had refused on the grounds that […]

Darling claiming pension consensus

Social Security Secretary Alistair Darling has told Money Marketing thatthe Government&#39s pension policy “reflects a consensus”.He was responding to criticism from National Association of Pensions Fundchairman Alan Pickering. Pickering told the NAPF annual conference inGlasgow that the political parties were engaged in point scoring overpension policy at the expense of the wider community. He urged […]

Standard mails members to show how mutuality outperforms plcs

Standard Life is firing the opening salvo in defence of its mutuality thisweek by writing to its 2.3 million members outlining how the mutual hasoutperformed its plc rivals.The mailing will claim the possibility of “one-off windfalls of uncertainvalue in two years do not justify demutualisation.The document will highlight how payouts from Standard&#39s life and pensionpolicies […]

UK gilts: Shaken and stirred

Mike Riddell, fixed income portfolio manager at Allianz Global Investors, reviews the performance of the UK government bonds market post-Brexit and assesses its future prospects, as well as giving his outlook for global fixed income markets and yields movements. In addition, he provides a brief analysis of the impact of Brexit and the Bank of […]


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