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IF announces new rate change

Following the decision by the Monetary Policy Committee to raise the Bank of England base rate by 0.25%, Intelligent Finance is passing on the full 0.25% to all its savings and ISA customers, and is also making the same increase to its mortgage SVR.

Intelligent Finance’s SVR will move from 6.05% to 6.30% APR (variable). Tracker Offset mortgages will start with rates of 4.99%, and the bank’s non-offset tracker mortgages will start with rates will begin at 5.24%.

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Direct changes management structure

Direct Financial Services, the Mortgage Packager based in Hull has changed its senior management structure. Company founders Malcolm Davidson and Alex Knaggs will assume the positions of joint managing directors. They will continue to steer the overall direction of the group’s diverse interests, which as well as the mortgage packaging arm, also includes financial advice, […]

Lib Dems speak out over rate rise

Vince Cable MP shadow chancellor of the Liberal Democrats, says: “People are now facing a three pronged attack from rising interest rates, rising unemployment and record levels of personal debt. This will spell further catastrophe for many hard working families.“Further evidence of irresponsible lending is likely to be highlighted in the coming months as interest […]

OFT warns estate agent

The Office of Fair Trading last week gave an official warning to the former proprietor of estate agency Homes Direct for failing to disclose his personal interest in the acquisition of a property from a client.

MT moves to gain a commercial edge

Commercial Mortgage Solutions has joined the Mortgage Times Group’s panel of commercial lenders, as the specialist market enjoys continued growth. The commercial mortgage market is experiencing a sustained period of growth, particularly through intermediary channels, and the Mortgage Times Group is keen to establish itself in a sector where it has seen applications soar over […]

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Under the radar – Fit for Work and sickness absence

Earlier this month we sat in on a presentation delivered by the Fit for Work service, and this session did highlight one small but important change to the offering that we must admit had slipped under our radar. The Sickness Absence Review published in 2010 suggested that the Independent Assessment Service (now branded Fit for Work) should have three access points; referral by […]

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