View more on these topics

Staffordshire Building Society launches flexible deals

Staffordshire Building Society has launched two new flexible mortgage products in its first foray into the flexible market.

The products are available for first-time buyer, home movers and remortgages, have rates starting at 4.74.% for five years.

Staffordshire&#39s first product is a 1% discount rate off the Society&#39s 5.74% SVR for two years, with free accident, sickness and unemployment cover for six months subject to status. The offer also carries a free valuation and is available on all types of mortgages up to a maximum of £250,000 or 75% LTV, with a £195 arrangement fee.

Staffordshire&#39s second product is a 0.8% discount for five years, with a pay rate of 4.94% (APR 5.3%). The product is available on all types of mortgages up to a maximum of £250,000 or 90% LTV, with a £125 product arrangement fee.

Both products offer the ability to overpay, underpay and take payment holidays. On the 1% discount product the customer can also have immediate access to a drawdown facility up to 75% of the value of the property, within an agreed income criteria.

Both products revert to the society&#39s Loyalty rate of 5.70% after five years, with £300 cashback paid on completion.

Lyn Colloff, group secretary and marketing executive, says: “I&#39m delighted that we&#39ve been able to put these two new flexible products together to show that, on top of our other products that are in best buy tables, we really do understand what&#39s important to borrowers.”


Scottish Life Mortgages ties up Bristol & West deal

Scottish Life Mortgages (SLM) has announced an exclusive 4.79% discount deal with £1,000 cashback through Bristol & West. The product is available up to 95% LTV at 1.16% below SVR for 48 months with no extended tie-ins. Steve Scholes, director of SLM, says: “Brokers want good discount deals with no extended tie-ins. The £1,000 cashback […]

CIS target women&#39s memory for home options policy sales

Research conducted by leading financial services provider Co-operative Insurance Society (CIS) found that women have better memories than men when it come to remembering important dates. The research, which questioned people of both sexes from across the country, found that almost twice as many men forgot their wedding anniversary as women (14% v 8%), a […]

Consistent regime wanted

The Treasury has responded to broker demands for more consistent regulatory regimes by agreeing to explore the links between CP121 and mortgages, writes Harriet Williams.The government admits that the finalising of mortgage regulation ahead of changes to the polarisation regime is “unhelpful timing”. But brokers say the FSA will have enough time to take account […]

FSA issue new rules for financial promotions

The FSA has spelled out plans for simplifying rules for the financial promotions for the provision of qualifying credit. The FSA issued guidance on what constitutes financial promotion in brochures, advertisements, websites and telesales calls in May. CP146 says a number of exceptions will be made that will not be subject to new rules, including […]


News and expert analysis straight to your inbox

Sign up