View more on these topics

Abbey Nat makes self-cert debut

Abbey National is moving into the self-certification market for self-employed borrowers for the first time.

It is offering the self-certification mortgage at 8.7 per cent up to 75 per cent loan to value. The product is being launched to brokers this week. It will not be available through the branches but will be offered direct.

Abbey National decided to launch into the market after running a pilot scheme between February and April last year.

It is also looking at offering buy-to-let mortgages for people with property portfolios.

Business sales director Basil Larkins says: "We experimented quietly with this market last year. This is for brokers who have clients who are self-employed and have problems getting loans because they can&#39t supply two years of accounts."

Borrowers must have been in business for at least 24 months. Maximum loan is £150,000.

Recommended

Fight for good against PIA evil

For all those IFAs buried in deepest Essex, a rare treat is in store at the end of this month. For one week only at the Palace Theatre in Westcliff-on-Sea, the cuddly Kieran Root, former editor of What Investment, will be appearing nightly as the Cowardly Lion in The Wizard of Oz. Those familiar with […]

Hay maker

Stockbroker Tilney & Co is taking its first steps into the pension market with the introduction of its self-invested personal pension. Our panel review the Sipp by first commenting on how it fits into the market. Laird describes the plan as a niche product. Oliver says: “The Sipp market for income withdrawal and phased retirement […]

Kensington Mortgage switches to Lansons in bid to change image

Non-status lender Kensington Mortgage Company has dropped its PR agency Citigate and picked Lansons in a bid to revamp its image. KMC says it has taken on the new agency to help change the way it is seen by the public from a “lender of last resort” to a “lender of choice”. KMC marketing director […]

Reversionary cuts seen as end of bonus war

Life offices have stunned IFAs by slashing with-profits reversionary bonus rates despite last year&#39s rocketing stockmarket. The fall is said by life companies to have been brought about by the continuing trend towards lower inflation, lower interest rates and the approach of Emu. Life offices are also pointing the finger at the Government&#39s decision in […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment