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London bucks trend with boom in house costs

The cost of owning your own home has fallen throughout the UK apart from London.

Cheltenham & Gloucester&#39s latest &#39Affordability Index&#39 shows Londoners pay £35 out of every £100 of take home pay a £1 increase on the pervious index.

C & G say the increase in property prices has been more than outweighed by low interest rates, and the modest drop in earnings has been neutralised by tax and National Insurance changes.

C & G managing director Roger Burden says: “Although property transactions have hit their highest level in a decade, this only represents two thirds of the level reached in 1988.”


BoS ups NatWest bid

Bank of Scotland has upped its hostile bid for Natwest by about £7bn with an offer of £27.58bn.The increased offer will include the issue of share loan notes and special dividends to NatWest shareholders.Yesterday the Government cleared the way for the takeover by not referring the bid to the Competition Commission.

Portman Building Society – Two Year Step Up Bond (inserted 29/11/99)

Two Year Step-Up BondType: Two-year bond with tiered interest rates.Minimum-maximum investment: £500-£50,000 (£100,000 for joint account).Interest rates: 6% gross in year 1, 7% gross in year 2.Term: 2 years.Offer period: Until further notice.Withdrawal penalties: No withdrawals permitted.Tel: 0800 807080.

20 per cent boost in life industry sales

Sales of life insurance, pensions and investment totaled £9.5bn in the third quarter of 1999, an increase of 20 per cent on 1998.Overall the value of life insurance policies sold rose 31 per cent to £6.5bn, while pension sales fell by eight per cent to £1.3bn.Sales of Isas and Oeics were also up eight per […]

Cost of home ownership continues to rise in London

The cost of owning your own home has fallen throughout the country, as it continues to rise in London.Cheltenham & Gloucester&#39s latest Affordability Index shows Londoners pay £35 out of every £100 of take home pay, an increase of £1.00 on the pervious index.C & G say the increase in property prices has been more […]


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