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Mortgages plc launches stepped discounts

The lender will now offer borrowers a choice of discounts. Customers can select either a 14-month discount from the date of completion, or a 36-month rolling stepped discount which leaves them with no early repayment charge after the discount period ends. The discounts on the 14-month basis are up to 2%, and the stepped discounts are available with an initial discount up to 1.75%.

Peter Beaumont, sales and marketing director at Mortgages plc, says: &#34We have had these developments planned for some time, as we felt it was increasingly important to offer a varied approach. I&#39m sure the stepped discount products will be particularly popular, as they remove the overhang period that traditionally exists when the discount period lapses. We are working on a number of other product enhancements and expect to be making further announcement over the coming months.&#34

The revision to the discounts also compliments Mortgages plc&#39s free legal initiative available on all remortgage applications using Goldsmith Williams that are received by October 31 2004.


Interactive Investor moves to Moneyfacts for personal finance data

Building on the existing investment services – including £10 share trading, an award winning fund supermarket, CFDs and more – Interactive Investor&#39s strategy sees it widening its offer to become a complete financial service. The service will place equal emphasis on mortgages, loans, credit cards, banking, savings, life insurance, pensions, tax and financial planning. Given […]

AMI publishes new Guide to the T&C Scheme

The trade body says that the move to statutory regulation by the Financial Services Authority means that every regulated firm must assess its T&C arrangements.  It is important to note that the T&C scheme covers more than simply the gaining of qualifications.  From a firm&#39s senior managers to its advisers and back office staff, the […]

Domain receives full authorisation from the FSA

Compliance director Julie Hamilton says: “Domain is different, we have always limited our number of ARs, each of whom expects personal attention from our team of highly skilled staff. “FSA regulation will bring an era of trust and confidence in mortgage advisers from the public, and the already highly respected name of Domain will be […]

Two-thirds of sub-prime market up for grabs

Packagers are still uncertain about whether they need to be authorised or not after the FSA sent out a series of mixed messages. Mortgage Strategy revealed last week that a letter to Kate Main, senior policy adviser at the Council of Mortgage Lenders, from the FSA indicated packagers would have to be authorised come October […]


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