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Genesis Direct launches N&P funded tracker

Genesis Direct has joined forces with Norwich & Peterborough in the launch of a limited funds, fees-free remortgage special.

Genesis Direct, the direct submission service of correspondent and branded lender Genesis Home Loans, has introduced a bank base rate tracker at 0.50% above BBR for the term of the mortgage. The deal gives a current pay rate of 4%, has no early redemption fees and is available for both purchases or remortgages up to a maximum 90% LTV.

Remortgaging clients also benefiit from a free standard valuation report and free legal service. For new purchases the free standard valuation is a real attraction, as is the peace of mind of having no early repayment charges.

Both employed and self employed clients are eligible for this new scheme – including first-time buyers – which offers enhanced multiples of up to 3.5 + 1 or 2.7 x joint income. The arrangement fee is £299, which can be added to the loan, and the minimum loan amount is £50,000 on either purchase or remortgage.

John Lee, head of sales and marketing at Genesis Home Loans, says: “We are delighted to be able to offer this product to our intermediaries as it represents real value for the client, with a low, long-term rate and no early redemption fees, plus free legals and valuation.

“With such a good deal on offer we are sure that it will be popular amongst brokers and their clients, but with a limited tranche of funds available it may not last long.”


Southern Pacific plans next round of roadshows

Southern Pacific Mortgage Limited has completed a run of five regional regulation roadshows for 300 of its packagers and their brokers. Held in Leeds, Liverpool, Birmingham, Bristol and London, the packagers were given in-depth briefings on the contents of CP186 and other recent consultation papers. An explanation of the process and timetable for both FSA […]

Industry calls for more research on HIPs

The Council of Mortgage Lenders and the National Association of Estate Agents have added their weight to select committee calls for more research before the planned Home Information Pack is launched. A parliamentary select committee has been set up to review the government&#39s draft Housing Bill. It reported last week that much work still needs […]

HSBC&#39s unbelievable offer

From Paul MarshallHaving just read Robert Thickett&#39s article on the dodgy advice given by banks (Mortgage Strategy, July 21) I wish to add HSBC to the list of firms who could do with giving its advisers a spot of remedial training. During a recent mortgage review I was informed by the clients that HSBC could […]

Sitting room is the favourite room at home

The sitting room is the favourite room in the house, says research carried out by NOP on behalf of Halifax Estate Agents. The research also reveals the extent to which the TV property programmes influence their viewers and the DIY projects they undertake. The sitting room is by far the favourite area in the house […]


Guide: how to change your auto-enrolment support

As we approach the two-year milestone of auto-enrolment, employers have had the opportunity to truly assess the capabilities of their chosen support. They are also now realising that getting to the staging date was the easy part, and that support is required for almost every aspect of the day to day running of their scheme. With the three-year re-enrolment window coinciding for many with the total removal of commission and Active Member Discounts from pension-related products and services, as well as the introduction of the pension charge cap in April 2015, many employers will have no choice but to review their support options. But, what is involved in transitioning your auto-enrolment scheme away from your current support options? This guide from Johnson Fleming aims to outline some of these key areas and provide information and discussion points on what you need to consider.


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