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New 10-year fixed rate from Leeds & Holbeck

Leeds & Holbeck Building Society has launched a new 10-year fixed rate mortgage at 4.95%.

The new mortgage is fully portable and available up to 95% of property value. Capital repayments are allowed at up to 10% a year and there are no MIG fees up to 90% of property value.

Tony Burdin, head of marketing, says: “Although some people anticipate a further cut in bank base rate, it is increasingly likely that the medium-to long-term trend will be upwards.

“With a rate of just 4.95% it represents excellent value for money and is ideal for borrowers wanting long-term peace of mind about their monthly repayments. It is hard to imagine cheaper 10-year deals coming onto the market.”


Regulation could lead to mis-selling

The Chartered Insurance Institute has raised concerns that the FSA&#39s plans for mortgage regulation could result in consumer confusion and, at worst, mis-selling. In CP146, the FSA proposes that training and competence in the form of a formal examination is not required for non-advised mortgage sales other than lifetime mortgages, but CII director-general Dr Sandy […]

Yorkshire ready to sign new subsidiary Accord

Yorkshire Building Society has named its new subsidiary Accord Mortgages – an intermediary-only channel to be launched in March 2003. Accord is headed by Linda Will, who takes the role of managing director and previously worked on the society&#39s e-commerce capability. Mark Underhill joins as commercial director from Yorkshire&#39s product development team and current intermediary […]

Give us a break on tax and regulations

Today, the Confederation of British Industry calls on the government to halt the “relentless and damaging” rise in business taxes, which will cost firms an additional £47 billion between 1997 and 2005. It also publishes its submission to Chancellor Gordon Brown ahead of his pre-Budget report, due out later this month. Protecting the UK&#39s competitive […]

NAMBA publishes response to CP146

The National Association of Mortgage Brokers and Advisers has today published its response to the FSA&#39s consultative paper on mortgage advice (CP 146).   NAMBA has formed a strategic alliance with the Association of Independent Financial Advisers to build an effective trade body for mortgage intermediaries. Both organisations are therefore keen to contribute to the development […]

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