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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, the majority of which charge standard rates of 7.74 per cent.

The building society also announced that between May and October it increased its mortgage market share from 8.5 per cent to 10.1 per cent and new net lending totalled £2.3billion for the same period.


FSA will recruit independent to hear complaints

The FSA is recruiting an independent commissioner to head its new complaints sch eme set up to investigate con sumer and industry grievances against the regulator.Under the new body, IFAs could receive compensation if the FSA is found guilty of misconduct in areas such as poor admin or lack of integrity in its dealing with […]

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 […]

LIA backs Warland in product design row

The LIA is backing Autif director-general Philip Warland in the heated debate with the ABI over the role of Gov ernment in financial product design and marketing.The LIA claim it supports Warland&#39s recent comments that the Government has an important role to play in the design of financial products.Spokesman John Ellis believes it is unclear […]

EMX success may lie in IFAs&#39 hands

EMX has had a troubled few months. Since its launch in June, trading volumes have been well below expectations, while many of those that have used the service have complained of impracticalities and slow processing.One of the biggest disadvantages has been the insufficient range of fund managers EMX has on board. It currently has about […]

Introducing Trevor Greetham

Ryan Medlock, Investment Proposition Manager, Royal London Royal London Asset Management’s (RLAM) new head of multi-asset is officially up and running. I want to look at what expertise Trevor brings to the table and how this affects the Governed Portfolios (GPs) and Governed Retirement Income Portfolios (GRIPs). Trevor Greetham joined RLAM in April 2015 from […]


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