View more on these topics

Savills Private Finance offers two-year split deal

Savills Private Finance is offering borrowers the option of splitting their mortgage in any proportion between a two-year 3.85% fixed-rate loan and a two-year tracker at 0.15% below the base rate (current pay rate 3.85%).

Minutes from the Monetary Policy Committee meeting last week, published yesterday, show that while seven members voted that the base rate should remain at 4%, two voted to cut it by 25 basis points.

Mark Harris, director at SPF, says: “If the MPC members can&#39t decide whether to cut interest rates or keep them at the current level how are potential borrowers meant to decide whether to fix their mortgage now or take a gamble that rates will fall further with a discounted or tracker mortgage. Our new deal gives them the chance to hedge their bets with a split between a tracker mortgage to benefit from any future falls and a market leading fixed rate if base rates start to rise.”

“We are delighted to offer this unique and highly competitive deal to clients to take advantage of this uncertainty. The fact that both payable rates are currently identical is an added bonus as the initial monthly payments, regardless of what split is taken, will be identical.”

The products are available for both new purchases and remortgages. There is an arrangement fee of £399 and with no redemption fees at the end of the two-year term.


IFS scores low marks from candidates – again

Up to 200 successful CeMAP candidates were wrongly told they had failed their exam following marking errors at the Institute of Financial Services.The mistakes were unearthed by an audit of a new question bank installed on September 2002. Checks found that the computerised marking system was making errors on two questions in CeMAP paper three […]

Co-operative tells spenders to take Christmas easy

The Co-operative Insurance Society is urging the public to take it easy this Christmas as consumer debt and equity drawdown continues to soar. The CIS tells consumers to set themselves a budget and stick to it — making sure they allocate money to activities such as socializing, present buying and food shopping. Consumers should not […]

FOS judgement on N&P Tessa Select Account

Judgement was delivered last week in the judicial review of the decision of the Financial Ombudsman Service regarding the interest paid on Norwich and Peterborough Building Society&#39s TESSA Select Account. The Court found in favour of the Ombudsman. N&P announced before commencing legal action, that if it was unsuccessful, it would pay extra interest to […]

Survey reveals north-south e-business divide

Northern-based IFAs claim to carry out more e-business online than their southern counterparts, according to the results of a new survey out today by Origo, the technology standards body for the financial services industry. Figures show that 61% of northern-based IFAs currently carry out more than 25% of their business online compared to only 20% […]

Retirement fund - thumbnail

What price (more) freedoms?

George Osborne will make his last Budget speech of the current parliamentary term this week, and the early media briefings suggest that pensions will again feature heavily in that statement. So what are we able to learn from the weekend’s coverage?


News and expert analysis straight to your inbox

Sign up