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Who do these Banco Abbeys think they are kidding?

Una hipoteca para la vida. (That&#39s Spanish for &#39a mortgage for life&#39.) It makes my blood boil when I hear radio adverts for certain Banco Abbeys going on about what a hassle it is to remortgage. Their solution is to offer an uncompetitive rate for life. Of course, you could take one of their competitive two-year deals. But what happens at the end of the two years? You&#39ve guessed it, an SVR at around 2% over the odds.

And of course they&#39re not alone. If lenders want loyalty, they should do what Nationwide does and offer the same deals to existing customers as new ones.

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Financial Health matters

In this context it is interesting to note that sales of mortgage payment protection insurance have not been as high as the industry or the government would like. This is in part due to the feel good factor which has been so strong for so many in recent years. Low interest rates, unemployment and inflation […]

SHIP launches home reversions code to protect consumers

The code comes into effect on October 31 and will offer SHIP home reversion customers the highest possible level of protection until this part of the equity release industry comes under full FSA regulation. It will ensure that consumers and brokers can have full confidence in SHIP home reversion products. Central to the code is […]

Advantage sets up secured loan division

To head the secured loan team, Advantage has recruited Angela Mitchell who has many years&#39 experience in the broker secured loan market. Advantage says it has established relationships with a number of major high street lenders, meaning it can offer market-leading products and commission. The firm says this is is the first step in enabling […]

Societies can help struggling FTBs by sticking to their founding ethics

No sector of the housing market has felt the effect of steadily increasing property prices more than first-time buyers. Although the rate of increase in many areas seems to have levelled off – recent surveys even report a fall of between 1% and 2% – the rise in property prices over the past couple of […]


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