Northern Rock’s 18-month flexible fixed rate mortgage has received mixed reactions in the industry.Rates start at 4.49% and borrowers can choose between paying a lower rate with a product fee of 695 or a higher rate of 4.79% with no product fee. The range also offers LTVs of 75%, 85%, 90% and 95%. Andy Wilgoss, managing director at Square Mile Mortgage Finance, says: “This mortgage looks competitive. It is also well timed if speculation that the next interest rate movement will be upward proves correct.” But Wayne Unsworth, mortgage adviser at Hallmark IFA, says: “This seems like a good rate and is a good idea in principle but the fees are still the same as longer fixes, which means the expense will add up for clients. It would be a good idea to lower the fees as well.”
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The Business Mortgage Company, has joined the panels of Friends Orion and Park Row Associates as a pack-ager for buy-to-let mortgages and commercial loans. Andy Young, managing director of TBMC, says it is part of the firm’s strategy to establish relationships with networks and IFAs. He says: “Buy-to-let and commercial mortgages present great opportunities for […]
Banks could cash in on changes to the way the legal sector is regulated and buy conveyancing firms. The draft Legal Services Bill, published in May, proposes to reform the way legal services are regulated by establishing the Legal Services Board and put consumer interests at the heart of the regulatory framework. The draft also […]
Misys has received a request from “certain members” of its senior management team to explore the possibility of making an offer for the business. An independent committee of the board has been established to consider the request.
The return of US lenders to the buoyant UK mortgage market is down to their big swinging dick mentality as they seek to ensure they play in the same growth markets as their key competitors.This surprising remark was made by Peter Beaumont, deputy chief executive of Mortgages PLC a wholly owned subsidiary of US investment […]
by Debra Corey, group reward director Choosing a name isn’t easy. Whether it’s for your new puppy, a bundle of joy or your reward programme, a name determines a first impression – and often a lasting memory. When it comes to your reward programme, the name will determine how your employees feel about it even before […]
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