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A&L pulls tracker range

Alliance & Leicester has withdrawn its tracker range following the base rate cut of 1%.

A&L says it will not be immediately replacing the range and that decision in principles must be converted by December 4

Key Facts Illustrations will only be available for withdrawn products until December 4.

A release from A&L says: “If you have a new case you can secure a product by submitting a full mortgage application – you do not have to complete a DIP first.

“A DIP cannot be converted to a full mortgage application without a proceed message. This proceed message must be sent via the system – a verbal proceed is not sufficient to allow conversion.”

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Marketwatch 08/12/2008

Swaps continued to plummet but we have not seen any further improvements in fixed rate deals. And three-month LIBOR is now 3.79% but we have not seen any movement in tracker pricing either.

FSA calls for clarity on collars

The Financial Services Authority is appealing to lenders to be clear where collars and floors apply on tracker mortgages.

Beware fraudulent lenders, says ASTL

The Association of Short Term Lenders is warning brokers to steer clear of unscrupulous bridging lenders that are demanding non-refundable application fees then not following through on deals.

Greg Broomer 2

Survey looks at the challenges facing businesses post auto-enrolment

A survey conducted by Johnson Fleming at the Pension & Benefits Show 2014 highlighted the key challenges faced within organisations post auto-enrolment. The results showed that communicating the changes and the value of them to staff, and receiving timely data from the payroll provider proved to still be the most challenging aspects of managing an auto-enrolment scheme.

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