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Mortgage providers hold fire over rates rise

The major mortgage lenders have held back from immediately raising their lending rates despite the 0.25 per cent increase in the base rate by the Bank of England.

Nationwide says: “We have to consider the needs of our savers and our borrowers very carefully.”

The Halifax says it is still reviewing its rates.

The B of E raised rates for the seond time in three months yesterday to 5.5 per cent.


Building societies attack carpetbagger stance

Building societies have hit out against a Government refusal to bring in new laws to protect them from carpetbaggers.A Treasury select committee has thrown out a recommendation only savers who have been with the building society for two years should benefit from demutualisation windfalls.A further recommendation which would have given borrowers the same voting rights […]

Old Mutual dark horse for Gartmore

Old Mutual is looking to buy Gartmore, according to The Mail on Sunday.The South African insurance giant is believed to be bidding £500m and is expected to offer the top management job to existing Gartmore chairman Paul Myners.Gartmore has been put up for sale by NatWest in it fights against a £21bn hostile takeover bid […]

Royal & Sun share price rallies after profits fall

Royal & Sun Alliance has managed to talk up its share price even though profits have plunged over the past nine months.It reported a nine month profit fall to the end of September of 6.1 per cent compared to the same time last year but its share price still rose 5p – 1.2 per cent […]

Bank of Ireland bid for Ulster

Bank of Ireland is in talks with Irish Life and Permanent on making a joint bid for Ulster Bank, according to the Financial Times.Offers have been invited by Wednesday for Ulster Bank by parent company NatWest. The move comes as NatWest fights a hostile £22bn takeover bid from Bank of Scotland.Analysts value Ulster at £1.7bn.

Who pays inheritance tax and how to declare it

By Kim Jarvis, Canada Life In this article we look at which forms personal representatives (PRs) need to complete and who actually pays inheritance tax (IHT).  To recap, under current rules, any part of the estate that falls within the available nil-rate band (NRB), currently £325,000, is taxed at zero. Anything in excess of the NRB […]


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