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Base-rate trackers from Mortgage Next

Broker network Mortgage Next has added a new range of base-rate tracker loans funded by Halifax to its selection of products.

The range has mortgages for first-time buyers, other homebuyers and borrowers remortgaging, all tracked until November 30, 2005.

First-time buyers qualify for £250 cashback and a refund of up to £435 when using a Halifax valuation report while remortgage customers get a free property assessment and have their legal fees paid.

There is no arrangement fee for any of the mortgages in the range, with repayment fees of 3 per cent to October 31, 2003, 2 per cent until October 31, 2004 and 1 per cent to October 31, 2005.

The LTV is 97 per cent, except for remortgages where it drops to 95 per cent.

Marketing director Justine Tomlinson say: “This move by Halifax to offer competitive rates through Mortgage Next shows their com- mitment to the intermediary market and enables mem-bers to really add value to their customers.”


Widows hails menu choice

Scottish Widows has welcomed the FSA&#39s move to ditch the defined payment system in favour of the menu proposal put forward by Aifa.Widows had opposed the DPS and its CP121 response, together with parent Lloyds TSB, was sharply critical.It was one of the product providers which worked on expanding the menu proposal put forward in […]

Smith says Govt is not bringing in compulsion

Work and Pensions Secretary Andrew Smith has indicated that the Government will not introduce pension compulsion on employers or employees and has issued a call for an employer taskforce to aid the Green Paper consultation.Smith told a CBI conference in London this week that he wanted to build on Britain&#39s tradition of voluntary occupational provision, […]

Aberdeen to float property arm

Aberdeen Asset Management is to float its property management division and has cut the size of its board of directors by almost half.Aberdeen Property Investors represents 26 per cent of the overall group&#39s assets under management, with earnings in the year to September 30 reaching £10m.The company at the centre of the split-cap investment trust […]

L&G unveils tracker fund

Legal & General has established a global tracker fund for investors who want to achieve greater diversification at a relatively low cost.The global index trust is a unit trust which tracks the Standard & Poor&#39s global 100 index. This index comprises 100 of the largest global companies, including Reuters Group, Sony Corporation and Volkswagen AG.Legal […]

Reforming India: just the beginning

By Kunal Desai, Neptune India Fund

As global investors continue to scour emerging markets through the lens of reform potential, India shines bright. Indeed, we think it can sparkle even brighter. We anticipate India’s self-imposed 10-year ‘policy holiday’ to turn into one of the most pro-growth and pro-investment policy calendars seen in Asia in years. The Indian electorate has engineered a historic verdict. We now have the strongest Indian government since 1984, with the pro-market Bharatiya Janata Party (BJP) achieving an absolute majority for the first time in the party’s history.


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