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Northern Rock and L&G in reissue of combined account and bond

Northern Rock and Legal & General are teaming up to launch an instant

access savings account offering fixed interest of 7.05 per cent alongside

an investment bond.

The companies say the offer follows the success of previous issues of the

Balance Choices account.

Policyholders are offered a guaranteed return on the instant access

account until July 1, 2002 together with the growth or income opportunities

from an investment in the L&G with-profits income bond.

The product is available through both Northern Rock and L&G. Minimum

opening balance is £5,000 and maximum £500,000 per investor or

£1m for joint applicants.

Savers can choose to invest up to 80 per cent in the L&G with-profits

bond, with the remaining 20 per cent in Northern Rock&#39s instant access

account, or opt for a split to meet their requirements.

Northern Rock says the bond is a low-risk investment designed to provide

the potential for greater returns than the average deposit account but with

less volatility than a direct investment in the stockmarket.

Northern Rock sales and marketing manager Andy Kuipers says: “By giving

increased choice as far as the percentage of funds invested in the

with-profits income bond is concerned, we believe the issue will appeal to

a broader range of savers.

“Customers can enjoy the best of both worlds by committing funds between

saving and investing.”


Principality Building Society – Discount Option 2

Wednesday, 6 June 2001.Discounted term: Until August 31, 2006.Discount: 2.66 per cent until February 28, 2002, 1.66 per cent until February 28, 2003, 0.66 per cent until August 31, 2006.Payable rate: 3.79 per cent until February 28, 2002, 4.79 per cent until February 28, 2003, 5.79 per cent until August 31, 2006.Minimum loan: £5,000.Maximum loan: […]

ScotEq Intl adds base in Dublin

Scottish Equitable International is setting up a Dublin-based offshorecompany to operate alongside its existing Luxemburg operation. The first product to be issued from Dublin is likely to be a with-profitsbond, details of which will be announced later this year. ScotEq International actuarial director Stephen Bishop has been appointedgeneral manager of the Dublin operation. The office […]

Platform Home Loans – 7.25 Per Cent Capped

Friday, 8 June 2001.Capped term: Until July 1, 2002.Capped rate: 7.25 per cent.Minimum loan: £75,000.Maximum loan: Up to 80 per cent of valuation subject to a maximum of £500,000.Income multiples: 3.5 times principal income plus second or three times joint.Arrangement fee: £395.Redemption fee: 6 per cent of original loan in years one and two, 5 […]

Keeping up with moving Joneses

Recent economic and social problems such as stockmarket volatility andfoot and mouth disease have not dented people&#39s desire to move property,says Alliance & Leicester. A&L questioned 4,115 adults in the UK in March for its latest quarterlymoving-improving index which analyses people&#39s intentions to move orimprove their home. It found that 8 per cent of homeowners […]


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