View more on these topics

102% tracker mortgage for new graduates from Widows Bank

Scottish Widows Bank is introducing a graduate mortgage which should help IFAs develop a new client base.

The loan offers up to 100 per cent of property value plus a further 2 per cent to cover buying costs, including stamp duty and legal fees.

Parents can guarantee the loan so graduates are able to increase the amount borrowed. There is no mortgage indemnity guarantee and the loan can be repayment or interest-only or a combination.

Widows Bank believes aiming at recent graduates can give IFAs access to clients with good earning potential for the future. The mortgage is available to people who have graduated within the last five years. It has a 0.25 per cent discount for the first six months and then is 1.25 per cent above the base rate of 4 per cent.

Business development director Gordon Bowden says: “We are aiming to help graduates on to the property ladder quickly. Traditionally, on leaving university, graduates do not have a deposit and struggle to enter the property market. The introduction of our graduate mortgage demonstrates our commitment to offering consistently competitive products and builds on our successful professional and flexible mortgages.”

Recommended

Equitable can not lay blame on IFAs

I read the article headlined, Equitable Life accuses IFAs of urging policyholders to quit (Money Marketing, May 30) with interest and anger.I can understand Equitable Life being worried about its members now jumping ship due to fear about its current and future viability but to blame IFAs for encouraging this to happen is a bit […]

Abbey National Asset Managers appoints head of retail sales

Abbey National Asset Managers has appointed Simon Gordon as head of retail sales in a bid to boost its unit trust presence in the UK IFA market.Gordon, who was head of retail sales at SLC Asset Management, has 15 years experience in the investment industry and joins as Abbey looks to expand its product offering […]

Close Venture Management – The Healthcare and Leisure Property Trust

Friday, June 7, 2002Type: Unit trustAim: Income and growth by investing in the hotel, care home andresidential development sectorsMinimum investment: Lump sum £11,000Place of registration: Isle of ManInvestment split: 100% in the hotel, care home and residentialdevelopment sectorsYield: 7.5% gross a yearIsa link: NoCharges: Initial 5%, annual 2%Commission: Initial 3% until August 30, 2002, thereafter […]

Julian Gibbs

Stockbroker Cazenove has linked up with international insurer AIG to launch the AIG Cazenove universal investment bond.This combines the tax advantages of unit trusts and investment bonds in that, because of the AIG&#39s tax position, unlike other bond funds, there is no deduction against the underlying funds to meet the tax payable by AIG Life. […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm

    Email: customerservices@moneymarketing.com