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FNMC aligns self-cert and full status rates

First National Mortgage Company has brought starting rates for self-cert applicants into line with those for full status applications on ranges of both standard variable mortgage and remortgage products.

The self-certified version of FNMC&#39s standard variable mortgage is available on a fixed rate of 5.49% until February 2005 or at a rate of 5.74% fixed until February 2008.

Self-certified applicants for FNMC&#39s remortgage cashback can take the option of a fixed rate of 5.99% until February 2005 or can take a 2.99% discount on the product&#39s standard rate. This gives a starting rate of just 5.75% – the same as the current discounted rate for full status applications.

The new rates are available to both employed and self-employed applicants. Mortgages taken out by self-certified applicants on the new discounts and fixed rates will revert to the Self Certified Variable Rate (currently 6.24%) at the end of the discounted or fixed rate period.

Gerry Bell, head of customer marketing, says: “Most lenders tend to penalise self-certified applicants. We don&#39t, so any self-certified applicant coming to us will get the same deal as a full-status customer.”


Cardholders to spend up to £10bn this Christmas

UK credit card holders will spend an estimated £10bn this Christmas, with the average big spender likely to chalk up credit card debts of £579. Research undertaken by the Virgin One account also shows the Scots to be top of the league of credit card spenders, averaging £730 on Christmas credit card spending. London&#39s City […]

Simply Mortgages to start franchise operation

A mortgage broker who launched her business just three years ago is set to franchise the company. Elaine Kellington set up Simply Mortgages in the bedroom of her home in Kelso on the Scottish Borders. She was formerly at Northern Rock in Edinburgh, which involved daily travel of 100 miles. Within a year Simply Mortgages […]

Trigold and CETA to trial protection system

Trigold has struck a new agreement with CETA, the UK&#39s largest general insurance network, writes Harriet Williams.Over 5,000 mortgage brokers who use Trigold&#39s award-winning system will take part in a trial that will provide them with access to CETA&#39s household insurance policies.Brokers will be able to source building and contents quotes from CETA via Trigold&#39s […]

SPML appoints new compliance manager

Southern Pacific Mortgage Limited has appointed Gavin Hunt to the post of compliance manager. Hunt&#39s responsibilities include all aspects of compliance, but in particular, he will be managing the transition from voluntary to statutory regulation by the FSA in 2004 Hunt was previously senior compliance officer with the MCCB for two years. His total of […]

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(Another) downhill stroll — retirement planning

A report published this morning by the CIPD (CIPD Employee Outlook March 2015) provides yet more interesting data to the changing landscape of retirement planning. It should be remembered that we are in a period of genuine flux here given that the default retirement age was scrapped three years ago, and new pension freedoms come online in April. Both of these alterations will have a huge impact on how employees plan for their retirement.


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