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UCB funds exclusive

UCB Home Loans is funding the launch of an exclusive two-year fixed self-cert mortgage with Openwork and Premier Mortgage Service. It is fixed at 4.99% (APR 6.7%) for two years and comes with a free standard valuation.

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Base rate remains at 4.5%

The Bank of England left base rate unchanged last week at 4.5%. The previous change in base rate was a reduction of 0.25 percentage points to 4.5% on August 4. Michael Coogan, director-general of the Council of Mortgage Lenders, says: “The Bank’s decision to leave the rate at 4.5% was no surprise. Housing transactions, mortgage […]

Halifax index shows September price rise

The Halifax House Price Index has highlighted an increase in house prices this month, and house price inflation rate that is lower than the same time last year.Martin Ellis, chief economist at Halifax, says: House prices increased by 1.2% in September and by 1.8% in the third quarter. Although this was the biggest quarterly rise […]

Money Partners is admitted to CML and IMLA

Specialist lender Money Partners has announced it has been admitted as a full member of the Council of Mortgage Lenders and the Intermediary Mortgage Lenders Association.Money Partners was previously an associate member of the CML. Colin Sanders, chief executive officer of Money Partners, says: “As we approach the first anniversary of our launch, Im delighted […]

You can create compliant promotions that aren’t dull

From Stuart Wilson I am writing in response to Lee Martin’s Star Letter in last week’s Mortgage Strategy (October 3). He has highlighted a problem faced by many brokers we speak to. I don’t know if: Martin has an over-zealous compliance officer reviewing his financial promotions (possible, there’s more than a few of those out […]

Pension savings-2015

Overseas transfer charge

By Jim Grant, Senior Product Insight & Technical Support Analyst, Royal London Transfers to overseas pension schemes are not recognised transfers unless the transfer is to a Qualifying Recognised Overseas Pension Scheme (QROPS). A transfer to an overseas pension scheme that isn’t a QROPS is therefore an unauthorised payment and taxed accordingly. However, even if the […]

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