Southern Pacific Mortgage Limited has launched a six-week special offer on all products which enables applicants to qualify for a refund of one month’s mortgage payment.The offer only applies to applications received between June 5 and July 17 which complete on or before September 30. SPML must receive the first three-monthly mortgage payments in full from the borrower by direct debit on the due date and borrowers who qualify will receive one month’s refund within four weeks of the third payment. John Prust, sales and marketing director at SPML, says: “This innovative promotion not only offers benefits to consumers, but it also gives brokers an opportunity to increase business by making this money-saving opportunity known to their new clients.” Colin Jackson, director at Baronworth Investment Services, says: “The offer is attractive but it is important to consider rates and SMPL’s rates are higher than some of its competitors. One month’s refund is a kind offer but you would not consider a mortgage on this aspect alone.”
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Moneyfacts.co.uk has warned that future base rate rises will affect consumers, especially those who have borrowed to the maximum and don’t have the comfort of a fixed rate mortgage. It says it has seen lenders increasing income multiples and launch competitive products and, as a result, some consumers are taking the maximum level of borrowing […]
Brokers have held up the red card to research from Alliance & Leicester that claims Britons are more prone to stick to their lender rather than shop around for a better deal. A&L’s research shows that 85% of borrowers tend to stick to their financial providers, spurring the bank to make the analogy that borrowers […]
With the exam season in full swing, the thoughts of most higher education students must be turning towards their financial futures.
NMGs Mortgage Intermediary Census has revealed a sharp drop in confidence levels of advisers, on the back of growing expectations of an increase in the Bank of England base rate.NMG has been tracking business confidence levels since the launch of Mortgage Intermediary Census in April 2005. Confidence levels peaked in February 2006 when 53% of […]
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