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The Mortgage Operation launches &#39Cutting Edge Fix Mortgage&#39

The Mortgage Operation has launched a mortgage fixed at 5.49 per cent until 2002 to allow consumers to capitalise on the predicted fall in interest rates.

The Cutting Edge Fix Mortgage, funded by West Bromwich Building Society, allows borrowers to enjoy a very competitive fixed-rate before reverting to the predicted reduced standard rate when the fixed period ends.

TMO managing director Frank Butler says: &#34The cut in base rates has made borrowers cautious about choosing a fixed-rate which may end up being higher than the standard variable rate in the next three years. Predictions suggest that the standard rate will not fall below the rate offered by Cutting Edge.&#34


HSAM extends commission offer

Hill Samuel Asset Management has extended its offer of a 3.5 per cent initial commission on the Complete Investment Account until December 31.The CIA is a tax efficient investment that offers maximum use of clients&#39 annual £6,800 capital gains tax allowance with no CGT liabilities for switches within the trust.

ABN AMRO wins risk control award

ABN AMRO has won an award for helping senior executives develop global risk policies and make better trading decisions.The investment bank won the IT excellence award from the Chartered Institute of Bankers using IT provider Asset Control&#39s financial markets data warehouse.The bank has been using the data warehouse since 1995 to provide its branches with […]

Stroud & Swinton adapts two mortgages due to base rate changes

Stroud & Swindon Building Society has anticipated customer demand following the cut in base rates and launched two variations on its standard flexible mortgage.The Fees Free Capped and Flexible Remortgage guarantees the interest rate payable will not exceed 7.7 per cent until January 1 2002. Cash bonuses are available, solicitors costs are paid by the […]

Analysts in warning to Pru on Q3 sales

Insurance analysts have warned that Prudential should be concerned that IFA sales for the third quarter are down for the first time since 1995.Both single and regular premium IFA sales are marginally down for the third quarter. Prudential also recorded a 20 per cent fall in product profit margins which was the highest of any […]


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