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US Federal Reserve cuts rates to 2.5 per cent

The US Federal Reserve cut rates by 0.5 per cent to 2.5 per cent yesterday evening, their ninth cut in rates this year.

Many investment experts believe rates could go even lower in the short term, possibly down to 2 per cent.

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Friday, 5 October 2001.Type: Self-certification fixed rate.Fixed term: Until April 1, 2003.Fixed rate: 6.74 per cent.Minimum loan: £25,001.Maximum loan: Up to 75 per cent of valuation subject to a maximum of £250,000, up to 60 per cent to valuation subject to a maximum of £400,000.Income multiples: 3.5 times principal income plus second or 2.75 times […]

Bank of England cuts rate by 0.25 per cent

The Bank of England has again cut the UK base rate by 0.25 per cent to 4.5 per cent, bringing interest rates down to their lowest level since 1964.This comes two weeks after the unscheduled interest rate cut following the terrorist attack on New York, also of 0.25 per cent.The Bank of England says the […]

First National Asset Finance picked to aid network firms

Bankhall has chosen First National Asset Finance as its first-choice supplier of asset finance to help members offer additional services to clients.First National, part of the Abbey National Group, provides funds to help small to medium-sized companies, including IFAs, invest in assets such as IT equipment to expand their business.It said the deal with Bankhall, […]

L&G in Cigna Healthcare deal

Legal & General has entered a strategic alliance with Cigna Healthcare to manage income protection and staff absence costs.Through L&G’s group income protection and Cigna’s independent absence management intervention service, employers have access to a service which manages both short and long term absence.Employers who buy a combined benefits package will get a discount on […]

Guarantees in the retirement income market

Lorna Blyth, Royal London  Do guarantees benefit customers and, if so, when? To answer this conundrum we commissioned Millimans, a global actuarial consulting firm, to conduct an independent review of the UK retirement income market and whether guarantees really do offer customers better value for money. The brief The study was one of the most comprehensive undertaken […]

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