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Countrywide considers move into travel cover

Countrywide is considering expanding its general insurance offering to include travel insurance, Mortgage Strategy understands.

The property giant is not believed to be looking at selling the insurance through its brokers until next year, but it is something on its radar.

Its brokers currently sell protection and general insurance products associated with property sales, such as building and contents cover.

It provides a single-tied proposition through Axa and Friends Life and is one of the largest clients of both insurance companies.

Its life insurance sales rocketed 45% in Q1 2012 while general insurance sales were up 28%, partly as a result of the acquisition of Mortgage Intelligence in April 2011.

Financial services division revenue grew 19% in the year to Q1 2012.

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Accord reduces rates

Accord Mortgages is reducing the rates on its two-year fixed and 2-year tracker rates at 75% LTV and introducing two new house purchase products.