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Nationwide bond pays fixed rate of 6%

Nationwide is offering a two-year fixed-rate bond that pays 6 per cent on lump sum deposits up to a maximum of £5,000.

Customers can take a monthly income option on Nationwide&#39s member&#39s summer bond that pays 5.8 per cent gross monthly.

The product is only available to Nationwide members who have held a personal membership savings account, FlexAccount or Nationwide mortgage for three years or more. Only one account per member is allowed and the offer is not available to Nationwide credit card holders or members of Nationwide&#39s subsidiaries. The bond is issued on a first-come, first-served basis.

Executive director Stuart Bernau says: “We believe it is important to reward loyalty and our members&#39 fixed rate bonds have always proved very popular. We are delighted to be offering members one of the best available rates for a lump sum of up to £5,000. This is an excellent return over two years.”


West Brom shortfall deal on BTL

West Brom has added a feature to its buy-to-let products which allows surplus disposable income to be used where there are rental shortfalls. Typically the lender will only approve buy-to-let mortgages where the rental is 130 per cent of the mortgage repayment. Now landlords are being offered a mortgage which covers 100 per cent of […]

Lincolm Fund emerges through Delaware

Lincoln Financial Group has created an emerging markets unit trust to be managed by Delaware International Advisers which manages Lincoln&#39s Far East trust and emerging markets life and pension funds. The unit trust will be run along the same lines as the life and pension funds and will invest in a range of industrial sectors […]

Start protests against Europe

Hundreds of financial advisers are threatened with closure by European regulations on professional indemnity insurance. However, a further European directive on PI cover is due in April 2006 and this promises a report on the appropriateness of the 2005 requirements. Paul Smee, of the Association of IFAs, is reported as saying: “Given this review, we […]

Wagstaff to leave M&G

M&G UK retail managing director Phil Wagstaff is leaving the group at the end of June following a restructuring of its sales and marketing departments.He had been with the group for seven years.He says: “The business is in great shape to grow from strength to strength in the future. As M&G moves forward to the […]


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