Saturday 02 November 1996
Nationwide Building Society is offering a range of new mortgage rates, including a one year discount of 3.9 per cent on the current variable rate of 6.49 per cent for borrowers with a 25 per cent deposit, and a 2.9 per cent discount for deposits of less than 15 per cent. Discounts are also available over two and three years, as well as fixed rates of 5.75 per cent for two years, 6.99 per cent for three years and 8.15 per cent for five.
Another committed mutual, Coventry Building Society, is launching a new range of discount, cashback and fixed rate mortgages. They include a 2.04 per cent discount for a year on the standard variable rate, currently 6.99 per cent, plus a 3 per cent cashback, but there are penalties of 12 months' interest during the first three years and six months' for the next two. Discounts of 1.75 per cent until May 2000 and 0.75 per cent for five years are available. Fixed rates include 4.9 per cent until January 1999 with a six month penalty for redemption before 2002.
General Accident has reduced premiums on its level term assurance policies, which pay a fixed sum if policyholders die within a set period, by between 7 per cent and 16 per cent. A policy for a male non-smoker aged 34 paying pounds 100,000 on death within 10 years now costs pounds 12.70 a month at 35, slightly more than the equivalent from Virgin Direct but at older ages General Accident claims to undercut both Virgin and M&S as well as conventional competitors.
Stockbroker City Deal Services is offering private investors two free sale deals of any amount, plus all deals over pounds 1,000 free if investors reinvest in a Birmingham Midshires stock market growth account, which guarantees any growth in the FTSE 100 index over five years in full and a minimum guaranteed return of 10 per cent if the index falls or underperforms over the period. The minimum investment is pounds 2,500 and the offer is targeted at utility shareholders worried about windfall taxes.
Market Harborough Building Society is offering 6.5 per cent gross on a new one year fixed rate bond with a minimum investment of pounds 1,000 but a 90 day penalty is charged for withdrawals.
Abbey Life offers a new stand-alone pension product providing pounds 150,000 cover at 60 to a 35-year-old non-smoking male for pounds 28.31 a month before tax relief. Call 01202-401679 or an independent financial adviser.
NatWest Bank is launching a new term assurance plan offering three levels of cover, from pounds 50,000 to pounds 100,000 over 10, 15 or 20 years. Premiums start at pounds 4.75 a month at 18. Call 0800-255200 for details.
Fund manager NPI is launching a Latin American unit trust concentrating on major companies in the four main markets. The initial charge is 5.5 per cent, plus 1.5 per cent a year management, but sums as small as pounds 500 are acceptable.
ShareLink has announced an Accumulator Plus PEP, with a guaranteed growth of 20 per cent, plus any rise in the FTSE index. There are no charges, and amounts between pounds 1,000 and pounds 9,000 can be invested. Call 0121-236-4848 for details.
Johnson Fry has launched the third issue of its Income Safeguard Bond, offering a fixed return of 8 per cent a year free of basic rate tax, or a compounded return of 55 per cent after five and a half years, guaranteed even if stock markets fall 20 per cent. Minimum investment is pounds 5,000.
Simon Read: "Pension freedom is months away but if we don't act soon, the freedom may be to make an expensive mistake with our future"
30 January 2015 11:00 PM
The introduction of the new pension freedoms has been "alarmingly chaotic", reckons Nigel Green, chief executive of the financial consultancy deVere Group, He said this week: "The implementation of changes appears to be being rushed in a cynical attempt to woo older voters ahead of May's election."
30 January 2015 09:24 AM
There has been continued criticism of banks' delaying tactics and failure to find those affected by by the UK’s biggest-ever financial mis-selling scandal
26 January 2015 03:29 PM
Companies will be required to ask about health and lifestyle choices or marital status, to protect consumers who do not take up the government’s offer of the Pension Wise guidance guarantee service
23 January 2015 08:00 PM
I had dinner with the pensions minister Steve Webb this week. There was a wide-ranging discussion about the new pensions freedoms starting in April, and changes to the state pension. Crucially, I also got to ask Mr Webb whether he had any plans to have another look at the injustice that is frozen pensions.
23 January 2015 08:00 PM
23 January 2015 08:00 PM
While the health of the economy is not insignificant, Mark Dampier finds it incredibly unpredictable in terms of its impact on the stock market
21 January 2015 12:32 PM
A new free app is aimed at the three-fifths of Brits who have never switched supplier
20 January 2015 09:34 AM
Regulator’s investigation into the market found that around £160bn was held in easy access savings accounts that pay interest lower or equal to BoE base rate
17 January 2015 12:00 AM
Simon Read: Information is power. And it's in the wrong hands when people are cold-called by companies that know they're in debt
17 January 2015 12:00 AM
In debt? You're likely to be targeted by unscrupulous companies that hope to profit from your misfortune. They may try to pretend to be your friend by offering what they call "help" – but almost certainly that help will come with a cost and leave you worse off than you were before they got in touch.
17 January 2015 12:00 AM
In less than three months' time radical changes to pensions will take effect, providing investors with more freedom. Yet for those who prefer to make their own investment decisions, the choice of funds available is overwhelming. And an income drawdown account is also not particularly easy to manage.
15 January 2015 12:23 PM
The minimum amount for which you can be forced into bankruptcy is being raised from £750 to £5,000
Derek Pain: I'm cautious, but remain one of the few bulls in the market
Donald MacInnes: Who would want to be a Barbie girl in a non-Barbie world?
Mark Dampier: How to get an income now that savings are past the 'use by' date
Thousands of UK investors could lose out following collapse of Secured Energy Bonds
Bargain Hunter: Fly off for a winter break in France or Portugal for well under £100
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