Ipswich has launched a discount buy-to-let mortgage with no early repayment charge to coincide with the introduction of its online case tracking service for intermediaries on December 12.The product, which is discounted by 1.5% until February 29 2008 and has an initial rate of 4.90%, allows landlords to move to any other product during the two-year discount period. The mortgage has an 80% maximum LTV for purchase and remortgage and requires 130% rent cover based on a pay rate of 4.90%. The completion fee of 1,295 can also be added to the loan. Once the discounted period has passed, the mortgage reverts to Ipswich’s SVR. Existing members of the society also have the incentive of free valuation. The society’s online tracking service will give intermediaries the ability to track a case on the Ipswich homepage or a short cut to producing an online KFI. Paul Winter, sales and marketing director, says: “We now have in place a facility that many of our larger competitors don’t offer. “Financial advisers are keen to have the ability to track their cases online, so those lenders that are early to offer this service will be in a good position to increase their business with intermediaries.”
From Simon Baum I write with regard to the comment piece by Keith Butler in last week’s issue (Mortgage Strategy December 5) entitled ‘Affordability figures must add up’. I started reading what I thought was a general piece on affordability but found it soon descended into being a misleading and inaccurate portrayal of Alliance & […]
My Mortgage Direct has condemned the government for taking away a much-needed savings vehicle by excluding residential property from the SIPPs rules.The chancellors U-turn in this weeks pre-budget report should not have come as a complete surprise, says Cath Hearnden, director of MMD. Hearnden says: We have always been slightly nervous of this scheme, simply […]
Coventry is expanding its intermediary sales operation into Scotland with the appointment of an intermediary sales consultant.Karen Collington, who lives in Glasgow, has previously worked for Mortgage Intelligence and Cheltenham & Gloucester and has vast experience in the intermediary market.Julie Jones, head of intermediary sales at Coventry, says: Although we have always lent in Scotland, […]
Safe Home Income Plans has welcomed the news that the government has taken another step toward the regulation of home reversion schemes. Parliamentary moves mean Royal assent for legislation could be granted by the end of the year, speeding up the consultation process. This could be completed in Q3 2006 with regulation in place by […]
With auto-enrolment (AE) well under way for the UK’s largest businesses, over the next three years an additional 800,000 smaller employers (with less than 60 employees) will start their journey to comply with the legislation. AE mandates all eligible employees and their respective employers to make regular pension contributions into a qualifying pension scheme. To learn more about the legislation read our brief Jelf AEase — simple steps to AE compliance guide.
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