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West Brom offers car with Brum Brum mortgage

The West Bromwich and MG Rover launched their unique offer yesterday – a new Rover 25 when borrowers take out a Brum Brum mortgage with the society.

The offer is open to first-time buyers and borrowers who remortgage to the West Bromwich.

On top of a new car, the Brum Brum Mortgage also comes with free loan protection insurance for six months, no higher lending charge up to 90% LTV and refund of valuation up to.£350.

The Brum Brum mortgage is only available to borrowers who take out a mortgage directly with the society via the branch network, telephone or internet.

Once a mortgage is completed, the customer is contacted by MG Rover Group to arrange colour, specification and delivery.

Customers will be required to pay insurance, road fund licence, a first registration fee and any upgrade to a higher specification Rover 25 car.

A redemption charge will apply to compensate the society for early repayment of the mortgage.


Abbey chief executive appointed to FSA practioner panel

The Financial Services Authority has appointed Luqman Arnold, chief executive of Abbey, and Alan Yarrow, vice-chairman of investment bank Dresdner Kleinwort Wasserstein, as members of the Financial Services Practitioner Panel. The panel is a statutory body that represents the interests of practitioners within the regulatory framework, principally by ensuring that the FSA takes account of […]

Yorkshire launches £50,000 prize draw

The Yorkshire has launched a special prize draw for all new applicants for one of its mortgages to win £50,000. Anybody who applies for a new Yorkshire mortgage before August 31 2004 will not only be able to enter the draw, they are guaranteed to get a great value deal as well. Existing Yorkshire borrowers, […]

NGM unveils offering for principals

Next Generation Mortgages is to cater for intermediaries seeking direct authorisation under the Financial Services Authority. As of yesterday, Cardiff-based NGM is rolling out its added value proposition which features 18 components to brokers and IFAs throughout the UK who have declared an intention to become principals. There will be no formal upfront charges to […]

IMF says housing crash could hit UK

The International Monetary Fund has warned that the UK may be heading for a housing market crash that could hit the entire economy. In its World Economic Outlook report published last week, the IMF warned that while the UK economy has performed better than most, a shortage of housing, booming prices and rising debt could […]

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White paper — Singapore International Insights

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