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Mortgage Express renames Horizon

Mortgage Express has changed the name of its Horizon mortgage to FlexAbility.

Andrew Moss, product development manager, says: “We decided to change the name to FlexAbility, because we believe it better reflects what the mortgage has to offer.”

A FlexAbility mortgage offers flexible payment options of overpayment, underpayment and payment holidays. Interest on overpayments is saved, not earned, so customers don&#39t have to pay tax on it. The product has no redemption penalties or tie-ins and no MIG. Interest rates are linked to the Bank of England base rate.

Moss says: “The FlexAbility mortgage does exactly what it suggests. It gives customers the ability to take control of their mortgage payments and make the most of the flexible options open to them.”


Halifax index corrects inflation figures

The average UK house price rose to £121,794 in December, the latest Halifax house price index reveals. The index records a monthly change of -2.1%, but Halifax is quick to point out this apparent drop is “purely attributable” to technical adjustments made to December&#39s calculation. These include the inclusion of properties costing in excess of […]

TMG launches PR comeback campaign

Truro-based The Mortgage Group has agreed a public relations deal with Axis Media Group in a bid to restore its tarnished reputation. The Mortgage Group is run by Tony Murtagh and was the subject of an undercover investigation by the BBC&#39s Panorama programme in 2001. Murtagh is also a director of Capital Credit, based at […]

Two more packagers join Co-operative

Advantage Mortgage Services and Pavillion Securities Limited have joined the Mortgage Distributors Co-Operative. Keith Dearling, director of Advantage, says: “We are very pleased to be part of this exciting initiative and the product range on offer compliments our strengths in the market.” Tony Hughes, managing director of Pavillion, says: “The Co-Op is a natural fit […]

Sub-prime gets an image makeover

The non-standard market continued to decrease in size last year. But as we report on page 4, around 7.8 million adults or one in five of the population remain credit-impaired. Drivers of the non-standard population in 2002 included interest rates and falling arrears and repossessions. Indeed, repossessions after the first six months of 2002 stood […]


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