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The Money Store caps and fixes for credit impaired

Specialist lender The Money Store has launched one year fixed and capped rate mortgages for the credit impaired.

The loans are either fixed or capped at 6.75 per cent until August 2000 after which the rate will revert back to the three month Libor, currently 5.5 per cent, plus margins of 0.5 per cent above current variable rates.

There is a £295 arrangement fee which can be added to the loan on completion.

Redemption fees are five months&#39 interest in the first year, four months&#39 in year two, three months&#39 in year three and one month thereafter.


Ernst & Young to study the use of e-commerce in financial services

The Government has appointed management consultancy Ernst & Young to assess the implications of electronic commerce on the retail financial service sector.The move follows Prime Minister Tony Blair&#39s recent announcement of the formation of a project designed to ensure the UK benefits from the worldwide growth in e-commerce.The study will be conducted by the Cabinet […]

Friends Provident increases allocations

Friends Provident is offering a 1 per cent increased allocation on its Investment Trust Portfolio Bond.The special offer applies to all lump sum investments of £3,000 plus until June 22, 1999.The smallest investment of £3,000 now qualifies for and enhanced allocation of 99.5 per cent, while investments of £50,000 plus receive allocations of 103.5 per […]

Sun Life of Canada makes senior appointments

Sun Life of Canada has made two new senior management appointments.The life office has appointed Steve Gapper as head of marketing, the role will include assistant vice president status.Gapper joined SLOC in January 1998 from Scottish Widows where he was head of direct marketing.It has also announced the appointment of John Moulding as head of […]

Solicitors set up network for independent advice

Financial services solicitors are to set up a network to provide financial advice in a direct challenge to IFAs.Backed by the Law Society, specialist tax and financial services law firm Armstrong Neal, in Birmingham, plans to create a network bringing together similar solicitor&#39s practices nationwide over the next six months under working title the &#34Freedom&#34 […]


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