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Record number of fixed-rate loans

UK borrowers have taken out a record number of fixed-rate mortgages since Sept 2006, according to the Mortgage Trust. Fixed-rate deals now make up over 60 per cent of the market, up 48 per cent since last September.

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Alexander Hall to expand

Alexander Hall is to expand its branch network and broker headcount following the takeover of parent group Foxtons by BC Partners for 390m.Chief operating officer Andy Pratt says BC Partners is backing the plans, which will see Alexander Hall open more offices in Guildford and Surrey, where it only has one office, and expand further […]

NU will inject £180m into legacy products overhaul

Norwich Union says it will invest £180m this year to move its 850 legacy products onto five internal platforms and streamline its systems.NU has built up a large number of legacy systems as a result of the numerous mergers and acquisitions that have combined to form the firm.Distribution director David Barral says: “You would expect […]

Marsden and LV= link up on products

Marsden Building Society and LV= have announced a new strategic partnership.From September, Marsden will be offering LV=’s range of investment, life insurance and pensions products, advised by the friendly’s tied financial advisers. Marsden Building chief executive Neil Shoesmith says: “The partnership with LV= will enable the society to offer members a broad range of investment, […]

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