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Standard Life increases SVR to 5.10%

Standard Life Bank is increasing its standard variable rate from 4.85% to 5.10% with effect from November 19 2003 following the 0.25% base rate increase.

Anne Gunther, chief executive of Standard Life Bank, says: “It is important to put this rise in context. In mortgage terms, it does not mean misery for consumers. We expect the Bank of England base rate to go up to 5 or 5.5% by the end of 2004. When compared to base rates over the last 15 years, this figure is still at the lower end of the scale.

“But those consumers who are worried are those carrying a burden of expensive short-term debt. It is sensible to sort out finances as quickly as possible by remortgaging to a flexible mortgage at a cheaper interest rate. This allows homeowners to wipe out credit card debt or personal loans while at the same time saving money on regular monthly mortgage payments.”


Just 6% of FTBs understand mortgages, says MCCB

Only 6% of first-time buyers have a good understanding of mortgages, research from the Mortgage Code Compliance Board has revealed. With just a year before the FSA takes over the regulation of mortgages, the MCCB says the research highlights the importance of high quality mortgage advice to consumers. Conducted from a sample of FTBs, it […]

CETA launches support services proposition

General insurance network CETA has unveiled its support services proposition for intermediaries when the general insurance market becomes regulated in January 2005. CETA says it is offering assistance to intermediaries whether they are directly authorised, appointed representatives, introducers or even if they want to leave the industry. Directly regulated brokers will have access to compliance […]

Brokers&#39 clients could be at risk if they join networks

Mortgage brokers seeking appointed representative status have been warned against joining a network before first finding out what will happen to their clients if they choose to leave. Chris Fleetwood, senior partner at Paradigm, says those thinking of joining a network need to be aware that there could be a problem over the ownership of […]

CETA to hold free prize draw at Mortgage Expo

CETA and its sister company Spanish Property And Investment Network are celebrating their attendance at Mortgage Expo with a bonanza free prize draw give-away. Prizes include a week&#39s holiday for two in Spain, including flights and accommodation, a top brand digital camera, premier rugby tickets and replica England rugby shirt, a colour TV, Christmas hampers, […]

The savvy consumer

In last year’s FCA thematic review of the mortgage market, one of the key things highlighted was the “savvy consumer”. That’s the client who comes in the door with a very clear idea of what they need and expect you to get them it. They don’t think they need advice, they have after all consulted […]


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