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Lenders move to slash fixed rates

IF and Norwich and Peterbrough have both recently launched fixed rate mortgages that are more competitively priced than previous deals.

Jennifer Blackwood, spokeswoman for IF, says: “We felt it was the right time to cut the rate to 4.95%, down from 5.49%.”

Details of the product include: a discounted rate until October 31 2007 with a discount of 0.15% off IF&#39s standalone variable mortgage rate.

For a capital and interest mortgage of £95,000 over 25 years, the monthly repayments under IF&#39s new fixed mortgage will be £555.50 during the fixed rate period.


Industry reacts to interest rate freeze

The most recent change in interest rates was an increase of 0.25% to 4.75% on August 5 2004. The Monetary Policy Committee has raised interest rates five times since last November, to try and grind to a halt, the UK property market and consumer spending. Jak Sardar, economist for Barclays says: “&#39The decision to keep […]

FOS throws itself open to questions from brokers

By law, mortgage intermediaries will be covered by FOS from October 31 when Financial Services Authority regulation is introduced, while insurance brokers will be covered from January 14 next year. Each event begins at 10.50am. There will be a presentation at 11am, lasting approximately 50 minutes, followed by an informal question and answer session. The […]

Liverpool Victoria raises commission on Exweb

The commission has risen from five to 10 lautro points as a result of the high volumes of business that The Exchange generates on Exweb. The Exchange has recently announced that it has processed 100,000 transactions via Exweb. Rye Mills, director of the intermediary division at Liverpool Victoria, says: “The Exchange&#39s quote and transaction volumes […]

Lifetime Insurance Mortgage Expertsand Exclusive Connections enter into business alliance

LIME members and clients will have access to a comprehensive and professional packaging service from Exclusive Connections, the largest mortgage packager in the market. The service will be available via six of Exclusive Connections local offices and will provide members with access to a packaged panel of 17 lenders and an inclusive range of products […]


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