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Scarborough profits down

Scarborough Building Society&#39s profits fell 11 per cent to £4.7m for the year to April 2001, from £5.3m the previous year.

The fall comes as Scarborough increased its total assets by 10 per cent to £1.2bn from £1.1bn over the same period.

Scarborough chief executive John Carrier says: “Our objective is to provide long term value and we have returned real financial benefits worth £6.4m to our members over the past three years.”


Skipton launches three year fixed rate bond

Skipton Building Society is offering a three year fixed rate bond, paying an interest rate of 5.75 per cent. Minimum investment is £3,000, although additional investments of a minimum £500 by cash are allowed for a limited period. Maximum investment is £1m.Skipton head of corporate communications Mark Smitheringale says: “When developing their own individual investment […]

High cost in high street if the Nationwide demutualised

If Nationwide Building Society were to demutualise, UK borrowers and savers would pay over £30bn more in higher mortgage rates and lost interest over the next 10 years, warns the Consumers&#39 Association.The claim comes after the CA analysed research of the last five years which examined the potential impact of the remaining building societies converting […]

Towry Law launches new website for employers

Towry Law is launching a new interactive website for employers to give staff financial information, advisory services and buy products on-line.The Towry Law Financial Information and Advisory Site allows employees to fill in a financial planning questionnaire on-line to establish what particular products or services they need. Individuals will be able to buy Isas, take […]

Ipswich fixes interest in fixed rates

Ipswich Building Society has introduced a three year fixed rate mortgage that is available for loans of up to 95 per cent of valuation.The mortgage is fixed at 5.99 per cent until October 31, 2004 and has an arrangement fee of £295. Borrowers who redeem during the fixed rate period must pay 2.5 per cent […]


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