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Halifax increases SVR by 0.25%

Halifax says it will be increasing its standard variable rate from 5.50% to 5.75%, following the Bank of England&#39s rate rise last week.

The increase will come into effect from the December 1 2003 for existing borrowers, with tracker mortgage customers also seeing an increase in rates from the same date.

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Personal bankruptcies rise 13% in last 12 months

A total of 33,945 people have been served with bankruptcy orders over the last year &#45 a rise of 13% from the previous year. Government figures also show that personal bankruptcies in the third quarter of 2003 are running at almost 17% higher than in the third quarter of 2002. The figures come just days […]

Mortgage Pro to display sourcing system at Mortgage Expo

Mortgage Pro will be displaying its modular mortgage sourcing and processing system at Homebank&#39s stands at this years Mortgage Expo. Delegates will be able to see how an application is sourced, compliant documentation produced and a fully completed application is sent to the head office module for processing. Homebank Mortgages PLC, which will be recruiting […]

igroup results close to £1bn for third quarter

Igroup gross new originations topped almost £1bn in the third quarter of 2003. When compared with the equivalent period of trading in 2002, the number of accounts written rose by 21% and their total value by 23%. The company says this puts it on track to break through the £3.5bn new lending figure by the […]

Will supermarkets take your business?

Last week supermarket Asda announced that it was launching a range of life and mortgage cover products to be available through its stores. Market leaders Tesco and Sainsbury&#39s already offer insurance and mortgage cover to customers. With Asda owned by US giant Wal-mart, the scope for cheaper products could be huge and some intermediaries have […]

The curse of long-term cash

Trevor Greetham, Head of Multi Asset at Royal London Asset Management, reveals why clients should be seriously concerned when short-term holdings of cash turn into a long-term investment. There is nothing wrong with holding wealth in the form of cash on a short-term basis. For many people capital stability is important and access to ready cash […]

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