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Complete offers fixed near prime product from Platform

Complete Mortgage and Loan Services has launched a new exclusive near prime fixed rate mortgage product funded by Platform.

Rates are 7.29% at 65% LTV with a +0.40% self-cert loading, and 7.59% at 75% LTV with a +0.60% self-cert loading.

The fixed period runs to September 2011 and legal fees are free for remortgages if title insurance is taken.

The product is available to first-time buyers, home movers and for remortgages and allows up to £500 in County Court judgements.

All defaults will be ignored whether satisfied or not. The maximum LTV for remortgages is 70% for both status and self cert. There is an arrangement fee of only £1295.00 that can be added to the loan, and ERCs of 6% of the amount redeemed apply until 1 September 2011.

Tristan Pile, sales and marketing director of Complete, says: “We are delighted to have been selected by Platform as the exclusive distributor of its new fixed rate mortgage product, and we expect demand to be high in a market that currently offers brokers and borrowers few choices.”

Neil Wyatt, regional sales manager at Platform, says: “Complete is a business partner of Platform and we are delighted to be able to distribute shared exclusives via our key packager relationships.”


Marketwatch 01/12/2008

Swaps continued to fall rapidly last week and one-year swaps dropped below 3%. But these reductions have not been passed onto borrowers so far. The biggest discrepancies seem to be in five-year fixed rates, where best buys are around 5%. This means there are 1.3% margins even on 60% LTV deals.

A reality check in Brussels

The UK has always displayed an air of arrogance about its mortgage market in comparison with the rest of Europe, but we Brits have been silenced in recent months and are no longer boasting of our mortgage market triumphs.

Government owns majority stake in RBS

The government is set to become a majority stakeholder in Royal Bank of Scotland after shareholders have snubbed the lender’s plan to raise £20bn in capital.

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Guide: Johnson Fleming produces auto-enrolment checklist

For a job as big as managing the auto-enrolment changes, it’s important to know what has been completed and what still lies in front of you to give you the reassurance that everything is in hand. Getting the planning and project management right at the outset can help you see the path ahead and ensure everyone knows their roles and responsibilities. To help with this, Johnson Fleming has produced a checklist outlining every step that needs to be taken when preparing for auto-enrolment.


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