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Mercantile offers reduced fixed rate mortgage

Mercantile Building Society has reduced its fixed rate on two of its mortgages, aimed at borrowers with at least a 25 per cent deposit.

Mercantile now offer a fixed rate of 5.99 per cent for periods lasting up to August 2003 or June 2005. Mercantile&#39s current variable base rate is 7.59 per cent. The mortgages have no extended tie in after the fixed rate period and include free unemployment insurance in the first year.

Mercantile chief executive Gordon Robinson says: “With the added benefits such as no tie ins the mortgages are bound to be popular.”


iii launches interactive TV site

Interactive Investor International, online personal financial services provider, has launched its first interactive television site in partnership with NTL. The site on the NTL service gives an independent overview of the financial services market. It currently includes information on savings, home banking, pensions, stock markets, mortgages and ISAs. The information ranges in complexity from beginner&#39s […]

Merger madness to create a mega insurance group?

As the tumbleweeds blow round the derelict offices of Equitable Life, the insurance company to end all insurance companies will be born. The merger and acquisition frenzy of 2000 will culminate in the creation of the mighty ScottishAbbeyTSB CGNPru. But will even it be able to put a stop to Alasdair Buch anan making his […]

Permanent Insurance cuts term assurance rates

Permanent Insurance, income protection providers, is cutting term assurance rates by up to 73 per cent. The focus of the changes is on pension term assurance with only three months left before stakeholder limits come into effect. The aim is to encourage IFAs to exploit the potentially huge pensions market in the meantime. Only 11 […]

Workplace stress claims up says Unum

Income protection claims through workplace stress are up 88 per cent in the last seven years according to a survey from Unum. Claims for Chronic Fatigue Syndrome are up 40 per cent over the same period and 73 per cent of workers say their performance in the workplace is affected by the level of stress […]

Mothers missing out on millions

By Steve Webb, director of policy and external communications The ninth Royal London Policy Paper discusses how thousands of mothers are missing out on state pension rights when they don’t have to Earlier this month we published the ninth Royal London Policy Paper, entitled ‘Mothers Missing out on Millions’. It focuses on the thousands of mothers […]


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