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Scottish Mutual launches new income bond

Scottish Mutual has launched a new income bond linked to the performance of 30 stocks from the FTSE 100 and the S&P 500.

The stocks include Shell, Cadbury-Schweppes, British Telecom, Merrill Lynch and Microsoft and are divided equally between the FTSE and the S&P.

Investors can choose between 8.25 per cent annual income, 0.67 per cent monthly income or 26 per cent growth payable at the end of the term. Full capital return is guaranteed if the stocks do not fall by more than 30 per cent from their initial level in the final year of the product.

If the stock falls by more than 30 per cent between November 10 2003 and November 10 2004 and does not recover to its initial level, capital will be cutback by 1 per cent for each 1 per cent fall. There is no minimum capital return. The bond is available until October 10 2001. The minimum investment is £5,000.


Saga rolls out National IFA

Saga, the travel and services group targeting the over 50s, is rolling out its new national IFA service next month. Saga Financial Planning aims to employ 10 sales managers and 80 advisers, all AFPC qualified, within two to three years. Saga will target its 6m customer base with pension, investment, equity release and long term […]

MarketPlace – Exclusive New 3 Year Stepped Discount

Wednesday, 22 August 2001.Type: Discounted rate mortgage exclusive to Bradford & Bingley IFAs.Discounted term: Three years.Discount: 1.85 per cent in year one, 1.5 per cent in year two, 1.25 per cent in year three.Payable rate: 5.15 per cent.Minimum loan: £25,001.Maximum loan: Up to 90 per cent of valuation subject to a maximum of £500,000, up […]

Northern Rock – Balance-choices Second Edition

Thursday, 23 August 2001.Type: With-profits bond and high interest account combined.Aim: Income and growth by investing in Legal & General&#39s with-profits fund.WITH-PROFITS BONDMinimum investment: £5,000.Bonus rate: 6.25 per cent.Allocation rates: 100 per cent for clients up to age 79, 97.5 per cent for clients aged 80 and above.Charges: None.HIGH INTEREST ACCOUNTMinimum-maximum investment: £5,000-£500,000 for single […]

UK consumers to save 32 per cent of income this month

Britons are preparing for a financial storm by saving 32 per cent of their disposable income this month, according to findings from Alliance & Leicester&#39s new wealth tracker index.A&L asked a sample of 2,000 to show despite many people splashing out on holidays abroad this month, three out of four Brits say they will be […]


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