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Chelsea withdraws Prospect sub-prime range

Chelsea will be withdrawing its sub-prime Prospect range from close of business today.

It will be introducing sub-prime rates via Prospect tomorrow.

The rates will be available on the website from Tuesday morning.

All other Chelsea mortgage products remain unchanged.

Prospect applications on the current range must be submitted by 5pm today to secure the rate.


Weighing up the benefits of grants

Continuing my theme of grants from last week, I’d like to remind readers of the Financial Services Authority’s requirements when considering the suitability of equity release transactions.

Brokers warned over inaccurate applications

Consumer website is warning borrowers that applications submitted with insufficient supporting information or poor credit history are likely to be rejected out of hand.The comparison site today advises would-be borrowers that they will need to double check their applications if they are to stand a chance of getting a mortgage at competitive rates even […]

NR processors may face axe

Northern Rock staff processing further advances and remortgages could become victims of the bank’s redundancy programme, the bank’s former finance director claims.NR, which was nationalised in February, plans to reduce its 6,000-strong workforce by around 2,000 by 2011.Although an NR spokesman says it has not yet been decided which departments will be affected, Bob Bennett, […]

Market watch 07 April 2008

Swaps inched their way down last week but this had no effect on the race for the worst buys.


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