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Scot Eq predicts interest rates of 5 per cent in next six months

Scottish Equitable is predicting that the UK interest rates will converge on those of Europe and the US in the next six months.

It also suggests that base rates could fall from 6.25 per cent to 5 per cent.

In the US, it says that technology stocks will continue to be the best performers, although recent growth may be the result of &#39windowdressing&#39, with fund managers acquiring stocks which have performed well in their year-end reports to clients.

Communication stocks should have better than average growth and are cheap compared to technology stocks.


Egg cuts rate to 6.25 per cent

Prudential&#39s direct banking arm Egg has cut the interest rate on its savings account to 6.5 per cent from 7.25 per cent in keeping with its guarantee to maintain it at 0.5 per cent above the base rate.The revised savings account rate with cashcard is now 6 per cent. It was previously 6.75 per cent.Egg […]

TMO offers IFAs £200 compensation for failure to process offers in 48 hours

The Mortgage Operation is guaranteeing to give mortgage advisers £200 if it fails to meet its processing targets.TMO says the initiative called Non-Con guarantees a fast track service. It is promising to pay mortgage advisers £200 if an offer is not produced within 48 hours of the application being submitted.The £200 will also be paid […]


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