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Freedom unveils three-year fixes

Freedom Lending has added a range of three-year fixed rates to its product portfolio. All the products are priced at the same level as its current two-year fixes, and start from 5.43% depending on the product and LTV. Highlights include self-cert to 90% LTV at 5.88% and buy-to-let to 85% LTV which uses both rental and earned income, priced at 5.88%.

Borrowers have a choice of either paying a completion fee of 1.25% for prime, very near prime and near prime products or 1.50% for buy-to-let products. Alternatively they can pay a fixed fee of £595 across all products.

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PPI is becoming too hot for brokers to handle

From Simon Burgess I’ve criticised the Financial Services Authority and other bodies in the past for producing a stream of review documents and not doing anything tangible to address the payment protection insurance mis-selling situation. But its recent 445,000 fine of Loans.co.uk does show it has some teeth. The FSA investigation found the firm failed […]

Quicker underwriting in India

Cyber Highways is launching a service offering a quicker underwriting service for lenders by sub-contracting it out to India electronically.In the UK, underwriting can be a lengthy process, taking up to three months from offer to completion.Cyber Highways is trying to cut down this time by scanning the necessary forms and sending them to Pune, […]

Nationwide calls to raise Stamp Duty threshold

Nationwide has called on Gordon Brown to increase the Stamp Duty threshold, at which the initial 1% tier of Stamp Duty tax paid on residential house purchases kicks in, in line with house price inflation.This would take the threshold up to £202,000 from its current level of £125,000, based on the original threshold of £60,000 […]

Top networks show significant change

A poll of over 200 financial advisers indicates that significant membership distribution changes have taken place between nine of the largest mortgage networks over the last six months.Conducted by Paragon Mortgages, the survey shows Openwork has enjoyed particular success since its launch, and although many of its members are former members of the old Zurich […]

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Guide: Johnson Fleming produces auto-enrolment checklist

For a job as big as managing the auto-enrolment changes, it’s important to know what has been completed and what still lies in front of you to give you the reassurance that everything is in hand. Getting the planning and project management right at the outset can help you see the path ahead and ensure everyone knows their roles and responsibilities. To help with this, Johnson Fleming has produced a checklist outlining every step that needs to be taken when preparing for auto-enrolment.

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