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Good news or bad news – the choice is yours

Bank of Scotland is tomorrow adding to its large loan range with the launch of a 3 year fixed rate up to 60% LTV at 5.29% with a 0.25% fee with a maximum loan size of £10m.

I think this is the first time any mainstream lender has launched a product with a specified maximum loan in excess of £7.5m.

For anything in excess of this the rate and fee has always had to be negotiated with the lender on a case by case basis.

If the consumer press report this launch they have a classic good news, bad news choice of how to present it.

We could either see headlines of:

Bank of Scotland increase maximum loan size to £10m.


Bank of Scotland launch mortgage with a fee of up to £25,000.


Ward returns to IMLA

Tony Ward, managing director of Home Funding, has been elected to the Intermediary Mortgage Lenders Association’s board of directors, having left the organisation five years ago to focus on his own firm.

There’s a cuckoo in our nest

Come the spring I’m fully expecting the clocks outside the country’s town halls to go Swiss, not in terms of accuracy but to feature a cuckoo on the hour, just to remind us the direction that we’re heading in.I’m suggesting that as a nation we’re going both metaphorically cuckoo and that as far as the […]

007 joins the fight

Mole was tickled to learn that the fight to stop Lloyds TSB’s takeover of HBOS secured some last-minute celebrity backing from none other than 007, Sir Sean Connery.


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