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Portman plays fair by borrowers and lenders

Portman Building Society is cutting its standard rate for mortgages to 6.85 per cent and launching a range of fixed-rate and discount products.

The discount mortgages offer 1.6 per cent and 1.25 per cent reductions until May 200. They both have maximum loan to value of 90 per cent

The fixes are at 3.99 per cent until May 2001 and 5.49 per cent until May 2004.1 year fixed-interest bond. They offer 90 per cent and 95 per cent loan to value respectively.

All four mortgages have a procuration fee of £150.

The society is also launching one-year fixed-interest bond that will pay 5.15 per cent gross and has a minimum investment of £500.


ICS allows claims against nine more firms

The Investors Compensation Scheme is allowing customers of 9 former investment firms to lodge formal applications for compensation.The firms are WJH Dovey Insurance Brokers in Dudley, Staunton Group in Marlow, Solicitors Estate Agency in Paisley, RC Parish in Gloucester, Puttick Pensions & Financial Services in Devon, Broadway Business Services in West Sussex, Banner Assurance Services […]

Royal & Sun Alliance targets high net worth investors

Royal & Sun Alliance International Financial Services is launching a single premium investment plan aimed at high net worth investors.The Elite Investment Account has a minimum investment of £100,000 and no establishment charge or account fee. It has an ongoing administration charge of 1.2 per cent.General manager Simon Pack says: &#34We have developed this product […]

Virgin launches personal finance website

Virgin Net is spending more than £50m on an internet site that will recommend financial products to users when they are buying condoms.The online service provider is spending the money to revitalise its online retail services which will include the launch of a personal finance channel in March.The service will be free to its 150,000 […]

Scot Prov International sees new business rise 11 per cent

Isle of Man-based Scottish Provident International had a record year in 1998 with a rise in new business of 11 per cent. Funds under management grew to £882m up over £156m.Scot Prov International managing director Stuart Fairclough says: &#34Our figures for 1998 show another successful year for us. During 1998 we introduced two new products, […]


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