But Lynsey Hallam, spokeswoman for Portman, says the society is unable to comment.The society has just released a two-year fixed rate with an initial rate of 4.44% fixed until December 31, 2007 available through brokers only. Other details of the product include up to 95% LTV, 5.3% APR, a maximum advance of 500,000 with a 499 acceptance fee, no higher lending charge up to 90% and the ability to make part repayments of up to 5% of the loan amount borrowed without incurring early repayment charges. Paul Howard, director of intermediary sales at Portman, says: “This will be popular with brokers. It offers a competitive initial rate and an equally attractive follow-on rate.” The society is also cutting the rate on its lifetime mortgage product from 6.15% to 5.99%.
The London Mortgage Company has appointed Opus Mortgages as its only Scotland-based packager, in a move to expand its lending in Scotland.
The Halifax Housing Index for November shows house prices increased by 1.2% meaning, overall, prices have increased by 4.7% over the past six months.On an annual basis, house prices are up 4.5%, significantly below the 16.8% annual growth rate recorded in November 2004. However, the number of mortgage approvals to fund house purchase increased for […]
From Brian Humphreys
Solent Mortgage Services says its had a positive response from brokers to its shared ownership product through Trafalgar Homeloans, SMS’s partnership with Preferred.
By Jim Grant, Senior Product Insight & Technical Support Analyst The definitions of adjusted income and threshold income used to determine whether, and to what extent, someone’s annual allowance will be reduced can be confusing. Here we try to make sense of it all. The annual allowance will be reduced for high income individuals from […]
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