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Chase Bank Limits Cash Withdrawals, Bans International... Before you read this report, remember to sign up to http://pennystockpaycheck.com for 100% free stock alerts Chase Bank has moved to limit cash withdrawals while banning business customers from sending...

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Richemont chairman Johann Rupert to take 'grey gap... Billionaire 62-year-old to take 12 months off from Cartier and Montblanc luxury goods groupRichemont's chairman and founder Johann Rupert is to take a year off from September, leaving management of the...

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Cambodia: aftermath of fatal shoe factory collapse... Workers clear rubble following the collapse of a shoe factory in Kampong Speu, Cambodia, on Thursday

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Spate of recent shock departures by 50-something CEOs While the rising financial rewards of running a modern multinational have been well publicised, executive recruiters say the pressures of the job have also been ratcheted upOn approaching his 60th birthday...

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UK Uncut loses legal challenge over Goldman Sachs tax... While judge agreed the deal was 'not a glorious episode in the history of the Revenue', he ruled it was not unlawfulCampaign group UK Uncut Legal Action has lost its high court challenge over the legality...

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HSBC launches first sub-2.5% five-year fixed mortgage

Category : Business

Loan follows Yorkshire’s 10-year mortgage and comes as part of wider push by lenders towards lower-rate, longer-term deals

A five-year fixed-rate mortgage with an interest rate of under 2.5% is available for the first time ever as rates on new home loans continue to tumble.

HSBC has launched a five-year home loan with an interest rate of 2.49% for homeowners with a 40% deposit or for those with the equivalent equity in their property for a remortgage. The loan comes with a £1,999 fee and can only be taken out directly from the bank, not through brokers. Early repayment charges start at 5% in the first year and fall by one percentage point each year. The deal will be available from Monday.

It is part of a wider push by lenders towards lower-rate, longer-term mortgage deals. On Friday, the Yorkshire building society launched a 10-year fixed-rate loan at 3.99% with just a £130 fee to pay. Earlier in the week data provider Moneyfacts said the number of five-year fixed-rate mortgages launched in the past year has increased by 73%. By comparison, the traditionally popular two-year fix has only increased by 33%.

Interest rates on the five-year loans have also tumbled, so that the rate difference between the average two-year and five-year fixed rates, on a 75% loan to value mortgage, is just 0.04%.

“Borrowers have become far more interested in five-year fixes this year as they really seem to be the value buy in the market at present,” said Andrew Montlake of mortgage brokers Coreco. “This reduction by HSBC below 2.5% creates another milestone – and although I believed we would see rates this low some time this year, it has occurred a lot quicker than many envisioned.”

The HSBC deal may not be the best bet for everybody looking for a five-year fixed rate. Although it comes with a low rate, some borrowers with small mortgages may be better off over the term of the mortgage with a higher rate and lower fee. After HSBC, the lowest five-year fix on rate is Yorkshire building society at 2.59% at 60% LTV. This comes with a £1,475 fee. Norwich & Peterborough building society has a five-year fix at 2.74% at 60% LTV with a much lower fee of

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Loan move ‘significant’ for buyers

Category : World News

Mortgage brokers say that government support for home loans is a “significant step forward” for buyers, but there has also been criticism of the policies.

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As Advanced Equities turns…

Category : Business, Stocks

Defunct firm’s ex-brokers find yet another home.

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Ofgem wants ‘rogue’ broker powers

Category : Business

Energy regulator Ofgem asks the government for powers to tackle the mis-selling of energy deals to businesses by what it calls rogue brokers.

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2013 Workers’ Compensation Management Guidebook Includes 80 New Topics, Helps Employers Cut Workers’ Comp Costs 20% to 50%

Category : Stocks, World News

Amaxx and Advisen Collaborate to Provide Cost-Reduction Tools for Employers, Insurance Brokers, TPAs, Carriers and Consultants

Excerpt from: 2013 Workers’ Compensation Management Guidebook Includes 80 New Topics, Helps Employers Cut Workers’ Comp Costs 20% to 50%

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Holiday Autos Offers Travellers a Cheaper Alternative to Trains for Going Home This Christmas

Category : World News

WOKING, UNITED KINGDOM–(Marketwire – Dec. 20, 2012) - Car rental brokers, Holiday Autos, are reminding the British public to book car hire now in time for the seasonal holidays as a cheap alternative to train travel.

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Gender Equality Law Examined by 21st Century Insurance Brokers

Category : Stocks

Brokers comment on women drivers & what aims to be a ‘fairer’ insurance market come 2013

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Reduce Your Premiums During Tough Economy, Swinton Commercial Advises

Category : Stocks, World News

MANCHESTER, UNITED KINGDOM–(Marketwire – Sept. 19, 2012) - Swinton Commercial, one of the UK’s leading business insurance brokers, is offering valuable advice to businesses to help them lower their insurance premiums during the tough economic climate.

See the rest here: Reduce Your Premiums During Tough Economy, Swinton Commercial Advises

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Interactive Brokers Group (IBKR) receives a letter of noncompliance from Nasdaq, saying it’s non-compliant with Nasdaq Listing Rule 5250(c)(1) because its quarterly 10-Q has not yet been filed.

Category : World News

Interactive Brokers Group (IBKR) receives a letter of noncompliance from Nasdaq, saying it’s non-compliant with Nasdaq Listing Rule 5250(c)(1) because its quarterly 10-Q has not yet been filed. Post your comment!

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AUDIO: Did Draghi make the markets tumble?

Category : World News

The chief economist at brokers World First told 5 live what he made of the markets tumbling after Mario Draghi’s speech.

Link: AUDIO: Did Draghi make the markets tumble?

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