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Abbey targets remortgage customers with discount rate

Abbey National will be targeting its 25,000 remortgage customers
this week with its Flexible Plus mortgage which offers a three month
variable discounted rate of 2.99 per cent.

After the three month period, customers will see their rate increase to
4.25 per cent and will track the Bank of England base rate plus 0.75
per cent. The Flexible Plus mortgage will be available to up to 90 per
cent Loan To Value with a maximum credit limit of £250,000.

Abbey promises no redemption penalties or tie-in periods will apply
and is offering free valuation of up to £1,100. The built-in flexibility
means that customers will be able to adapt, with options to make
over or underpayments, take payment holidays as well as offsetting
savings against their mortgage to reduce the amount of interest
charged on the remaining balance.

Group marketing manager Jan Errington says: “It is simpler and
easier to understand than other offset mortgages because
customers don&#39t have to move their current account to qualify.”


Keydata plan uses capital gains allowance

Keydata is setting up a structured product offering investors higher than average returns by allowing them to take advantage of their capital gains tax allowances.The five-year alternative income plan is linked to the FTSE 100 and is partially comprised of five bonds, with each bond maturing at 12-monthly intervals throughout the plan&#39s lifespan.This structure gives […]

Britannic Money rebranded Mortgage Trust

Britannic Money is to be rebranded Mortgage Trust on September 29th, following its acquisition by Paragon Group in June this year. It will operate exclusively in the buy to let sector, focusing on small landlords building property portfolios. It will be intermediary focused. Its new range will include a 2-year discounted rate at 4.40%, a […]

Schroders builds on alpha fund success

Schroders is launching a European alpha plus fund modelled on its UK version which returned 8 per cent in its first year under Richard Buxton.The fund, managed by Adriaan de Mol van Otterloo, will be a best ideas&#39 portfolio of 40-80 stocks, focusing on companies with hidden value and growth potential. Like its UK counterpart, […]

Maintain high exam standards

It was remarkable to see that the pass mark in the July 2003 sitting of the savings and investments exam was 70 per cent. Clearly, the exam is proving popular, with many IFAs keen to sit it.Having sat the exam in July, my only concern is that the multiple-choice nature of the exam makes it […]


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