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Barclays and Woolwich launch fixed rate deals

Barclays and Woolwich have launched a range of new mortgage deals with competitive rates.

They offer a two-year fixed rate until January 31 2008 at 4.89%, and a five-year fixed rate until January 31 2011 at 4.99%.

The products are available with no arrangement fees and no early repayment charges beyond the fixed period. There will also be no higher lending charge when borrowing up to 95%.

There will be no valuation or legal costs for customers remortgaging and switching lender, and existing mortgage customers can also take advantage of these leading rates. The products will also allow clients to be flexible with payments by offering feature such as overpaying.


FSA reforms its enforcement process

The policy aimed at making the Financial Services Authority’s enforcement process more transparent and fair takes effect today. The new policy reflects those recommendations of the FSA’s Enforcement Process Review, published this summer, which required changes to the FSA Handbook. The majority of recommendations did not need to be consulted on and the FSA implemented […]

Get-rich-quick property clubs could be regulated

The Financial Services Authority has proposed plans to tighten regulations involving property investment clubs. Some clubs have come under fire recently for holding get-rich-quick seminars that attract inexperienced investors and can cost them thousands of pounds. The proposed regulations would mean clubs that do not exercise day to day control over the management of properties […]

Intermediaries struggle to obtain KFIs

Obtaining Key Facts Illustrations from lenders is the biggest problem intermediaries face since regulation, say those taking part in the Association of Mortgage Intermediaries September mortgage intermediary census. Firms responding to the census also highlighted the cost of compliance as a direct threat to business.Previous census results have shown that the majority of intermediaries welcomed […]

CML figures show 4.3% increase in mortgage lending

Gross mortgage lending increased by 4.3% to an estimated 28.1bn in September, up from 26.9bn in August, according to the latest data from the Council of Mortgage Lenders. This figure is one of the highest monthly lending figures on record, and 11% more than the 25.3bn of lending in September 2004.CML say that since the […]


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