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There’s room in the market for long-term fixes but the main action still centres on two years. And Barclays will pay interest on PPI claims with the money going direct to borrowers rather than claims firms


Hero of the week is Northern Rock for slashing a number of its rates. Its lowest two-year fixed rate at 2.99% for loans up to 70% LTV is only available through intermediaries.

Villains of the week are all lenders for making many existing borrowers mortgage prisoners with their interest-only restrictions. While I understand there is some uncertainty before the Financial Services Authority clarifies the Mortgage Market Review, they have all gone too far.


FSA extends PPI payout times

The Financial Services Authority has granted Barclays, Lloyds Banking Group and the Royal Bank of Scotland temporary time extensions to handle payment protection insurance complaints. The regulator said last year that all banks must compensate customers who were mis-sold PPI, which could cost a total of £4.5bn. The British Bankers’ Association appealed the decision so […]

US: mid-year review and outlook

By Felix Wintle, Manager of the Neptune US Opportunities Fund H1 2014 Economic data: after last year’s strength, economic data has disappointed. Indeed, the economy contracted 2.9 per cent in the first three months of the year — the US economy’s worst performance for five years. However, rather than a symptom of underlying economic weakness or […]


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