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NatWest launches new range of fixed rates

NatWest has launched a new range of fixed rate mortgages, including a two-year rate at 4.59%, and a five-year rate of 5.05%. There are no tie-ins beyond the fixed rate period, and neither of the deals carry legal or valuation fees.

A new range of first-time buyer fixed rate mortgages has also been launched starting from 4.99% for 18 months with no reservation fee.

On a capital and interest mortgage of £71,000 on a property value of £95,000, the monthly repayment on the 4.59% fixed rate would be £398.28. The same mortgage taken on the standard variable rate of 5.95% would cost £455.29 – a saving of £57.01 per month or £684.12 over 12 months.

Charles Haresnape, head of NatWest Mortgages, says: “These new fixed rate packages are extremely competitive and the 4.59% is our lowest for over 20 years.”


FSA makes enforcement a priority for 2003

The FSA has put enforcement at the top of its agenda for 2003 and 2004, alongside a commitment to pick up potential mis-selling scandals faster. The regulator envisages a 3.1% increase in expenditure next year to fund developments, including an increase in the enforcement team and extra resources channelled to influencing European policy-making. Howard Davies, […]

FMO and Trigold team up on compliance training

First Mortgage Options has teamed up with Trigold to demonstrate compliance software at FMO&#39s CeMAP training courses. Trigold staff will attend each course and demonstrate how the compliance aspects of the software relate to the CeMAP syllabus. David Espin, training and compliance officer at FMO, says: “We ran over 20 CeMAP training courses last year […]

The property hotspots for cash-poor first-time buyers

Belfast, Stourbridge and Inverness are among the best places to go for cash-strapped first-time buyers, Abbey National research reveals. With a deposit of £4,000, buyers would be able to get a £36,000 mortgage on a £10,000 salary – enough to buy a two-bed flat in Belfast, a one-bed flat in Stourbridge or a 0.64 acre […]

ARLA dismisses buy-to-let fears

The Association of Residential Letting Agents has dismissed fears the buy-to-let market is in danger of overheating. Speaking at ARLA&#39s annual conference in London, chairman John Crossley said: “It represents only 10% of the total rental market. There is scope for more investment in the private rented sector for the foreseeable future.” Crossley also said […]

‘How to…audit your auto-enrolment scheme compliance’

Avoid pension penalties with our auto-enrolment checklist

According to the Pensions Regulator’s annual commentary and analysis report released this month, 785 potential non-compliance cases were referred for investigation, with 23 auto-enrolment compliance notices issued. And they predict that the use of their statutory powers is only going to increase.


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