View more on these topics

Mortgage Promotions launch Standard Life Bank exclusive

Mortgage Promotions has launched an exclusive online mortgage deal with Standard Life Bank.

Network members who arrange a Standard Life Bank Freestyle mortgage with offsetting discount online will save their customers the normal Standard Life Bank offsetting fee of £150. The offer is available from January 27 to March 15 and is subject to demand.

The introducer procuration fee for Standard Life Bank business introduced by Mortgage Promotions members will remain as normal on this product. This is 0.42% of the advance except when the advance is greater than £150,001 for which the fee is 0.44% of the advance.

Nick Baxter, director of Mortgage Promotions, says: ” I am pleased that this exclusive deal has a tangible consumer benefit – namely our members can immediately show their customers that they have been able to save them a £150 normal set-up fee.”

Alan Dring, head of sales at Standard Life Bank, adds: “We chose Mortgage Promotions to launch our first exclusive offset deal as it has had a successful track record in delivering volume business to us since its launch 18 months ago.

“Additionally, we have been impressed with the marketing it has done on our behalf with its members. The success of this exclusive deal depends heavily on the communication between Standard Life Bank and Mortgage Promotions and its members.

“This deal is only available online and Mortgage Promotions is well-placed to help us identify which of its members are in a position to trade electronically.”


Retail savings market sees growth

The European retail savings and investments market has grown 8.1% over the period 1997-2001, a report from Datamonitor reveals. The UK accounts for the largest market share, followed by Germany. Retail deposits is the largest sector, driven by households increasing savings due to the slowdown of the global economy. The UK holds the largest retail […]

Lending figures up 1.1% in December

Total lending to individuals grew by £9.4bn (1.1%) in December – £0.6bn higher than November&#39s rise, figures from the Bank of England reveal. The three-month annualised growth rate rose to 14.7% from 14.6% in November. Secured lending outstanding grew by some £7.5bn or 1.1% in December, £0.1bn higher than the rise in November. Gross advances […]

1st Software in partnership with Webline

1st Software, a supplier of integrated technology solutions for financial advisers and intermediaries, has teamed up with Webline to give added functionality to its Adviser Office software systems. Webline, the UK&#39s first provider of online comparative quotes to Origo standard, provides comparative quotations for level term, increasing term, mortgage protection, and family income benefit, with […]

FSA warns consumer debt spiralling out of control

One in five families are struggling to service their debts, the Financial Services Authority warned last week. In a gloomy report on financial risk, the FSA warns that consumer debt is growing at unsustainable rates. Average mortgage debt now stands at £39,669, the average second mortgage including buy-to-let is £47,583 and the average second charge […]


News and expert analysis straight to your inbox

Sign up