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Three firms to offer MarketGuard’s rate protection product

MarketGuard has signed up three adviser firms to distribute its RateGuard product that protects against rising interest rates.

First Action Finance, HomeLoan Partnership and Julian Harris have signed up for the RateGuard product, offering protection against increases in mortgage payments as a result of a rise in the Bank of England base rate or LIBOR.

Chris Taylor, chief executive officer of MarketGuard, says: “Many people may be thinking of fixing their mortgage rate to guard against sharp hikes in interest rates, but for some this isn’t an option due to tightened lending criteria, an increased LTV or a change in their circumstances.”

Joe Cohen, managing director at First Action Finance, says: “It is possible that lending will remain tight for the near future at least, meaning some people could be unable to remortgage. RateGuard off-ers our clients a way around this.”



First multi-currency offset mortgage launched

An unnamed private bank is to provide with funding for what is believed to be the first multi-currency offset mortgage to be launched in the UK.


Mortgage rates at lowest level in a year

Lenders have pushed down rates from their peak last August with the average two-year fixed rate deal now at its lowest level for a year.


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