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Borrowers opt for variable deals

A record number of borrowers opted for variable mortgages in July, figures from Mortgages Direct show. In a month when market commentators were divided on whether the Bank of England would raise the base rate, nearly 30% of borrowers opted for variable mortgages in June compared with 26% in May.

Commercial illustration

Commercial First has launched an illustration facility that provides a one-page summary of costs and charges for the commercial mortgage contract being offered.

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“No sale, no fee” on Spring Move HIPs

Homeowners selling their homes are to benefit from a no sale, no fee deal on Home Information Packs from specialist HIP provider Spring Move. The company, which has been appointed by estate agents to commission the reports and legal activities associated with a property transaction, is challenging the industry to match its move.Critics have focused […]

GE Life cuts lifetime mortgage rate

GE Life has lowered its lifetime mortgage interest rate from 6.09% to 5.95%.It is also set to reinstate its cash back facility, whereby all customers, irrespective of the size of the loan, or who their financial adviser is, will receive a 250 tax-free cashback on completion of their equity release lifetime mortgage.Simon Little, marketing and […]

Mortgage plc expands corporate development team

Mortgages plc, the UK residential lender and wholly owned subsidiary of Merrill Lynch, has expanded its corporate development team through a number of internal promotions.The corporate development team is part of the sales function and focuses on networks, mortgage clubs and intermediary direct relationships. The team is headed up by Paul Fryers, head of corporate […]

Halifax hikes SVR

Halifax has raised its standard variable rate from 6.50% to 6.75%, following the recent rise in the base rate.

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(Another) downhill stroll — retirement planning

A report published this morning by the CIPD (CIPD Employee Outlook March 2015) provides yet more interesting data to the changing landscape of retirement planning. It should be remembered that we are in a period of genuine flux here given that the default retirement age was scrapped three years ago, and new pension freedoms come online in April. Both of these alterations will have a huge impact on how employees plan for their retirement.

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