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Portman withdraws oversubscribed bond from sale

Portman Building Society is withdrawing its one-year fixed-interest bond because it has been inundated with inquiries.

The bond was launched three weeks ago with an interest rate of 6.5 per cent gross per year.

Portman spokesman Mike Dobson says: &#34Demand has been extremely heavy and this pressure has forced us to replace the product.&#34

It is being replaced by another One Year Fixed Interest Bond paying 6 per cent gross per year.

The minimum investment is £500.


Davies restates phase two position to Treasury select committee

Financial Services Authority chairman Howard Davies indicated to the Treasury Select Committee inquiry this week that the FSA might take on board some IFA Association ideas on simplifying phase two.But he emphasised that overall the review would continue as currently constituted.He also refuted suggestions that the PIA was abusing its powers over phase two and […]

Abbey Life extends Headstart Plus until February

Abbey Life is extending its Headstart Plus offer on personal pensions and fee standing AVCs sold by IFAs until the end of February next year.The life office is offering a bonus of up to five times the initial monthly contribution or just over 40 per cent of the initial annual contribution.A 35-year-old contributing £150 a […]


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