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HBOS welcomes savings regime announcement

HBOS has welcomed yesterday&#39s announcement from the Treasury about a new long-term savings regime for the UK.

HBOS believes that a 1.5% annual charge is realistic and will undoubtedly increase the level of competition within the savings industry. More transparency and more competition is good news for customers. It will give a greater number of consumers access to advice and products; providing more solutions, for more people, to the £27bn per year savings gap.

HBOS introduced a range of Sandler-style products two years ago. These products, which include advice in their pricing, all feature no initial charge, no exit fees and annual charges of 1-1.5%.

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