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Virgin launches personal finance website

Virgin Net is spending more than £50m on an internet site that will recommend financial products to users when they are buying condoms.

The online service provider is spending the money to revitalise its online retail services which will include the launch of a personal finance channel in March.

The service will be free to its 150,000 existing customers from April 1 and to new customers from May 1.

The finance channel will provide advice to users on mortgages, pensions and investments.

The channel is aiming to be interactive in a bid to recommend the best products to individuals. It will have facilities to calculate mortgage and tax repayments and asses the basic credit standing of the user.

It will also provide information about where to buy the products after it has recommended them.


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