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Old Mutual launches Isa range

Old Mutual Fund Managers is launching its Isa range this month.

The range includes a maxi stocks and shares and cash Isa, a mini stock and shares Isa and a mini cash Isa.

The stocks and shares component will include 11 of Old Mutual&#39s 15 unit trusts.

Minimum initial investment is £1,000 lump sum or £50 a month regular premium.

The initial charge is 5.5 per cent and the annual management charge is 1.5 per cent.

These charges are reduced for the UK Allshare Mirror Trust and UK Money Market Trust, to nil initial and annual management of 1 per cent and 0.5 per cent respectively.

For the other funds commission is 3.5 per cent initial and 0.5 per cent renewal commission.


Winterthur develops system to speed up home buying process

Winterthur has developed a computer system which it believes will speed up the process of buying a home.The system called &#39Winteract&#39 aims to cut two weeks off the whole house buying process which Winterthur says currently takes an average of about 80 days from viewing to completion.The system removes the need for lengthy form filling […]

Standard & Poor&#39s merges UK services

Standard & Poor&#39s is merging all its UK investment fund information services into a single unit.S&P Micropal, S&P Fund Research and S&P Managed Funds Ratings will all come under the single remit of Standard & Poor&#39s Fund Services.It will bring together around 300 employees located in 13 countries.There has been speculation in the industry that […]

Cheltenham & Gloucester increase interest rates on its Isas

Cheltenham & Gloucester has increased the interest rates on its Cash and Tessa only Isas.The move sees the interest rate increase by 0.75 per cent to 6.25 per cent from 5.5 per cent.The rate change applies from May 8. It is guaranteed to be the same as the banks base rate until January 1, 2000.

Skipton ditches redemption lock-ins

Skipton Building Society is launching a range of mortgages with no redemption tie-ins.All loans will have one months&#39 interest penalty on repayment of the loan. There will be no penalty for part capital repayments.The range offers the choice of three loans, the base rate tracker which tracks the Bank of England base rate and offers […]

Creating opportunity out of change

By Denise Wond, marketing manager The buy-to-let market has recently been the subject of a raft of tax changes, all of which make it a less profitable and less appealing proposition for investors. In response, we’ve seen a dip in demand for BTL mortgages and that’s bad news for many advisers who will now be looking […]


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