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Fixed rate mortgages prove popular

The latest figures from The Council of Mortgage Lenders show that fixed rate mortgages accounted for 54% of all loans in August, which is the highest proportion ever since monthly records began in 1998.

Leeds Building Society has reported that its 10 year fixed rate mortgage at 4.65% is proving extremely popular with customers.

Jeff Kirk, corporate relationship manager at Leeds Building Society, says: “The average fixed rate in August was at 5.23% compared to an average variable rate of 5.61%. Our 10 year fixed rate offers your clients peace of mind, the ability to budget and the flexibility to pay off 10% of the balance each year without penalty. All this, combined with full portability, meaning a customer can move home and continue to benefit from a fantastic rate of only 4.65% have made this product very attractive.”


Avail provides free pensions simplification report web-service

Webline, the UKs largest and first online user of Origo standards, today announced that Avail, the specialist Suitability software provider which is now integrated with the portal, is providing a free pensions simplification report for users.The Avail software template will enable advisers to complete a bespoke and client specific report, detailing the actions required to […]

Brokers offered chance to write clients’ wills

Just Wills, the country’s largest will writing and estate planning organisation, has launched a scheme that allows mortgage brokers to offer a will writing service to their clients. With brokers increasingly dealing with clients who are buying houses that are well above the 250,000 Inheritance Tax threshold, Just Wills says having a will is imperative […]

Market Watch

Swaps have increased fairly significantly which will prevent most lenders repricing downward unless they are hell bent on increasing market share at a loss. One-year money is up 0.09% at 4.55% Two-year money is up 0.08% at 4.47% Three-year money is up 0.08% at 4.47% Five-year money is up 0.06% at 4.46% GMAC-RFC has stepped […]

Batchelor scoops personality award

Guy Batchelor, sales and marketing director at Platform, scooped industry personality of the year last week at the Pink Home Loans Service Awards 2005, held for the third year running at the Birmingham Botanical Gardens. Batchelor beat off stiff competition from Linda Will, managing director of Accord Mortgages, who claimed the runner-up prize. Mehrdad Yousefi, […]


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