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Nationwide cuts standard variable rate

Nationwide is reducing its standard variable mortgage rate to 7.09 per cent from 7.29 per cent from December 1.

It says the move comes against growing expectations there will be a reduction in interest rates and is taking the lead in cutting its rate because of the increasingly competitive nature of the mortgage market.

Nationwide also points to recent cuts in savings rates from its competitors as motivation for the cut and says it will be interested to see if its rivals follow its lead.


The test of strength

As the time draws nearer to the season of life-office year-ends and with-profits bonus declarations, IFAs (and others) will be as concerned as ever to identify which life offices are on the road to riches and which are on the road to less profitable times.Financial strength brings investment freedom which in turn offers the potential […]

Nationwide slashes standard variable mortgage rate

Nationwide Building Society has slashed its standard variable mortgage rates by 0.2 per cent. It means its SVR will be cut from 7.11 per cent to 7.09 per cent and reduces monthly payments on a £100,000 interest only mortgage by £16.66. The move is aimed at increasing Nationwide&#39s competitive advantage over other high street banks, […]

Cash blow for franchises in multi-tie plan

Franchisees face serious financial obstacles in becoming stakeholder multi-ties under the FSA proposals to end polarisation.The news will come as a blow to the likes of Allied Dunbar which has the biggest network of 4,300 franchisees.Currently, PIA costs and compliance assistance are covered by the parent company. But the FSA proposals say multi-tied firms must […]

Channel tunnel vision

Multi-ties look set to become integrated into the financial product distribution system and fears are rising for the future of the networks.A survey by financial services law firm Armstrong Neal shows 83 per cent of IFAs believe networks will become multi-tied. The industry seems torn over whether networks will play a significant role in multi-ties, […]

The Investment Clock: Keep calm and Macron!

Trevor Greetham, Head of Multi Asset In a marked contrast to the surge in risk sentiment that followed President Trump’s election in November, markets greeted Emmanuel Macron’s victory in the French presidential election with satisfaction and relief, rather than euphoria. After rallying strongly on opinion polls that accurately predicted the outcome, the euro held onto […]


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