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Nationwide increases fixed rates in reaction to rising swap rates

Nationwide has increased the rates on a number of its fixed rate mortgage deals by 0.3 per cent in reaction to rising swap rates.

The lender has increased the rates on its two, three and five-year fixed rates for house purchases, remortgage and further advance customers by 0.3 per cent.

The Mortgage Works, a Nationwide subsidiary, has increased the rates on all of its fixed rate residential mortgages and guarantor mortgages by 0.3 per cent.

The changes take place from today.

A Nationwide spokesman says: “As with a lot of other lenders, we are not immune to the rising swap rate environment.”


Food for thought in Russia

The troubles in Egypt are a reminder to investors in emerging markets that economic and stockmarket risk can be exacerbated by political issues. The Egyptian stock exchange has been closed for days following the anti-government protests so owners of shares listed there do not even have the option of selling until it reopens. Of course, […]


New regulatory bodies will face full audits by NAO

The Financial Conduct Authority and the Prudential Regulation Authority will be subject to a full audit carried out by the National Audit Office. The FSA came under the remit of the NAO for 2010/11 onwards and, in last week’s consultation paper, the Treasury confirmed that the FCA and the PRA will also have to comply […]

TenetLime reports £568k pre-tax loss

TenetLime has reported a pre-tax loss of £568,505 for the year ending September 30, 2010, following a £408,308 loss the year before. The network says the loss is down to decreased profit margins and increased operating expenses, which increased from £2m in 2009 to £2.4m in 2010. TenetLime increased its revenue by 25.8 per cent […]


Royal London sees 26% rise in new business

Royal London has reported a 26 per cent increase in new life and pensions business for 2010 from £2.5bn to £3.1bn. Scottish Life, Royal London’s asset management businesses including the Ascentric wrap, and Royal London 360°, Royal London’s international markets business, led the group’s performance. Scottish Life reported a 37 per cent rise in new […]

Tax year-end planning for annual allowance

Last tax year-end there was a lot to think about in relation to planning. The introduction of the tapered annual allowance and the implications of moving to a fixed pension input period, the reduction in the lifetime allowance and potentially applying for protection, and the concern about changes to tax relief, to name a few. […]


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