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Monday 29th of June 2009

News Tag: Legal & General

June 24, 2009

Lloyds Banking Group and L&G announce job losses

by Kay Murchie
”Lloyds
Yet again the financial services sector has been dealt a heavy blow with the news that Lloyds Banking Group is shedding 240 offshore banking jobs. Furthermore, Legal & General (L&G;) has confirmed plans to axe 200 positions from its protection and annuities business in Hove, Cardiff and Kingswood in Surrey. Lloyds Banking Group, which is 43% state-owned, has shed thousands of ...



May 12, 2009

L&G announces further 560 job losses

by Kay Murchie
”L&G
Insurance firm Legal & General (L&G;) has announced it is to axe 560 jobs in its savings business with 300 full-time staff and 260 contractor and temporary worker positions to go. The cull is in addition to the 450 job losses among support staff announced in February. A spokesperson for L&G; said: "Potential redundancies are being driven by changing business demand, operational ...



March 30, 2009

Legal & General posts £1.5bn loss, cuts dividend

by David Masters
Legal & General posts £1.5bn loss, cuts dividend
Legal & General has cut its final dividend for the first time in living memory following a £1.5 billion pre-tax loss, compared to an £848 million profit in 2007. The UK's fourth largest insurer slashed its dividend in half to 2.05p per share in a bid to preserve capital strength. The cut will save the company £120 million. Tim Breedon, L&G;’s chief ...



March 24, 2009

Homeowners opt for fixed-rates

by Gill Montia
Homeowners opt for fixed-rates
Research from Legal & General (L&G) indicates that more homeowners are opting for fixed-rate mortgages. The insurer's Mortgage Purchase Index for the first quarter of 2009 shows 72% of residential borrowers choosing a fix, compared to 65% in the last three months of 2008. Buy-to-let borrowers followed the trend with 68% of property investors choosing fixed-rate deals in the first three months of 2009, compared ...



February 25, 2009

L&G launches 4.29% fixed-rate mortgage deal

by David Masters
L&G launches 4.29% fixed-rate mortgage deal
Legal & General (L&G;) has launched a new five-year fixed-rate mortgage in co-operation with Chelsea Building Society. The 4.29% mortgage has a maximum loan to value (LTV) of 65%, and a maximum loan size of £500,000. Arrangement fee is £995, and no legal or valuation fees are included. It is only available through mortgage advisers that are part of Legal & General's mortgage network, ...



February 17, 2009

Nationwide launches 6-year Guaranteed Equity Bond

by David Masters
Nationwide launches 6-year Guaranteed Equity Bond
Nationwide Building Society has launched a new issue of its Legal & General Guaranteed Multi-Index Equity Bond (GEB). The six year GEB offers 70% return on any growth in the value of three of the world's top stock market indices - the FTSE 100 Index, S&P; 500 Index, and DJ EuroSTOXX 50 Index. Nationwide guarantees to return at least 100% of the original ...



January 19, 2009

Legal & General launches 3.69% mortgage

by David Masters
Legal & General launches 3.69% mortgage
Financial services provider Legal & General Mortgage Club (L&G;) has launched an exclusive two-year 3.69% fixed-rate deal for remortgage customers, provided by Alliance & Leicester. Maximum loan to value (LTV) is 60%, and the arrangement fee is £1,499. Martyn Smith, L&G;’s head of mortgages, said he expects the offer to be 'snapped up' by borrowers looking to remortgage. Customers with less equity can sign ...



August 1, 2008

L&G mortgage club launches two-year tracker at 5.99%

by Gill Montia
L&G mortgage club launches two-year tracker at 5.99%
Legal & General Mortgage Club is launching a two-year tracker loan at 5.99% (base rate plus 0.99%) on 9th August. The new deal, which is available at up to 75% loan-to-value for new purchases and remortgages, is being provided by Scottish Widows Bank, in its first offering through the mortgage club. The loan carries a £999 arrangement fee, which can be ...