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Charcol launches two-year base rate tracker

Charcol has launched a two&#45year base rate tracker at 0.51% below Bank of England base rate.

The deal has a current pay rate of 3.99% and is available up to 90% LTV and reverts to base rate plus 1.25% for the remaining term, although as penalties only apply in the first two years borrowers can also switch to an alternative deal after this period. Interest is charged daily.

Ray Boulger, senior technical manager at Charcol, says: “This deal is by far the cheapest discount or tracker mortgage currently available. It is available up to 90% LTV, whereas the next cheapest discount or tracker is only available up to 60% LTV.

“Even those borrowers reluctant to opt for a discount or tracker mortgage should consider this deal, as Bank base rate would have to rise by over 1% to over 5.5% before the pay rate would increase to above the level of today&#39s cheapest two-year fixed rate.”


Coventry launches buy-to-let range

Coventry last week launched a range of buy-to-let mortgages. The new portfolio includes a flexible product, with no early redemption charges and a free remortgage transfer service. There is also a guaranteed rate of no more than 2% above SVR and daily interest.

Online auction bids flood in for Beckham&#39s boot

The highest bid so far for the replica Adidas football boot – the type Beckham wore when he scored that penalty against Argentina in World Cup 2002 – signed by the player himself is now £940. You still have a chance to get your hands on this extraordinary memento, which has been box-framed along with […]

St Andrew&#39s secures B&B mortgage protection account

St Andrew&#39s Insurance, a member company of the HBOS Group, yesterday announced that it has won the Bradford & Bingley mortgage payment protection account. This move will see both new and existing mortgage payment protection policies sold within the intermediary&#39s retail network, which consists of over 500 locations within the UK, transfer to St Andrew&#39s […]

Jobs boost for Equity Funding Corporation

Equity Funding Corporation is opening a new call centre in West Kirby, Merseyside, creating 50 sales support jobs by the end of the year. It said the move was in response to a changing market and the need to provide a more responsive communication platform to the thousands of intermediaries who are opting for direct […]

What triggers the MPAA?

Jim Grant – Senior Product Insight & Technical Support Analyst There’s sometimes confusion around what triggers the money purchase annual allowance. Find out what does and what doesn’t trigger the MPAA. The money purchase annual allowance (MPAA) is a reduced annual allowance that can apply to contributions to defined contribution (DC) schemes. The following table […]


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