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Northern Rock launches new range of fixed rate bonds

Northern Rock has issued its latest range of fixed rate bonds for one, two or three years requiring a minimum deposit of 1.

The three new limited issue bonds will offer guaranteed returns at a rate of 5.5 per cent gross per annum and will be fixed to October 1 2007, 2008 and 2009 respectively.

From today (September 5) account holders will be able to open the bonds by post or through Northern Rock branches and additional deposits can be made up to a maximum of 2m.

Northern Rock says funds can be withdrawn during the fixed rate periods with a charge equivalent to 60, 90 and 120 days’ gross interest on the amount withdrawn to the one, two and three year bonds respectively.

Interest can be paid monthly or annually and transfers to the bonds can be made free of charge from all Northern Rock notice and no-notice accounts.


FSA set to axe age 70 rule

The FSA will scrap the age 70 rule on protection policies regulated under Cob rules, which will allow Icob advisers to sell policies maturing beyond age 70, according to several product providers.The regulator’s consultation period ended on Wednesday and responses from providers, advisers and trade bodies are expected to call for the abolition of the […]

Home of Choice system cuts out multiple log-ons

Home of Choice has been hailed for designing a system that cuts out the need for advi- sers to key in multiple log-ons to access sourcing engines. Home of Choice’s system, called Ignition, enables brokers to log on once and simultaneously access Trigold for mortgages, Assureweb for life and critical illness and Paymentshield for general […]

Bear building

Could we really see a bear market develop in residential property in this country? Such an event is not without precedent. In the early 1990s, house prices fell – in some areas by as much as one-third. The reason for dwelling on this unnerving prospect is that in the US we have seen disappointing sales […]

First fine for PPI firm since regulation introduced

The FSA has given Regency Mortgage Corporation a £56,000 fine which marks the first action the FSA has taken against a firm for sales of payment protection insurance since the regulation of the general insurance market.The firm was fined for not treating customers fairly when selling mortgage related PPI in the sub-prime market. The failures […]

Who cares?

By Tracey Dickson, marketing consultant There are almost 7 million carers in the UK – that’s around 10 per cent of the population who provide unpaid care for a disabled, seriously ill or older loved one.1 But according to a report from the charity Carers UK, 20 per cent of people providing 50 hours or more of care […]


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