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Halifax adds Rate Guard to all core tracker mortgages

Halifax is to include Rate Guard in all of its core tracker mortgage products with effect from September 10.

The product allows borrowers to move, with no penalty, to a fixed rate product within 12 months of their mortgage commencing.

Those switching can choose from the entire core fixed range available to existing Halifax customers – no restrictive LTV rules, no extra premium added to fixed rates for this facility

Jaedon Green, head of acquisition for Halifax, says: “Borrowers can be forgiven for not knowing whether to fix or track in the current market.

“This new addition to our range delivers the best of both worlds, allowing customers to select a tracker with confidence, knowing that they can switch to a fixed rate should rates reduce, or if their personal circumstances change.”


First-time buyers still struggling reports CML

Loans for first-time buyers continued to decline in July, while remortgaging rose and lending for house purchases held steady, compared with June, show figures from the Council of Mortgage Lenders.

Whitehall cannot stop extinction event

In the natural world species that can adapt to change thrive. Charles Darwin called it natural selection and explained how the theory worked in The origin of species, published 149 years ago.


Between a rock and a hard place

Next week marks the first anniversary of the run on Northern Rock and the first run on a UK bank for over 100 years. In the only case of consultation and review with NR customers since the run began, Steve Nuttall, head of YouGov, and Tony Dent, statistician and chairman of Sample Answers, analyse what went wrong

B&B director quits firm

Matt Stevens, group sales director and executive director at Bradford & Bingley, resigned last week.Stevens is expected to leave his role by the end of September.

Sub-Saharan Africa Near-Term Outlook

By Paul Caruana-Galizia, Neptune Economist

Sub-Saharan Africa’s economic renaissance continues. After growing at an average rate of five per cent over the past decade, the IMF projects an acceleration to 5.5 per cent growth among Sub-Saharan economies in the next two years, as developed economies emerge from the crisis. We expect this growth to be sustainable for three broad reasons.


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