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BM bids for adverse remortgage business

BM Solutions is introducing a new remortgage package across its entire adv- erse product range.

The firm hopes to encourage adverse customers to remortgage away from expensive deals, and is offering free legal services and £250 cashback All products in the range have no overhanging charges.

The range includes a tracker mortgage at Bank of England base rate plus 1.84 per cent, a three-year stepped tracker and a good payment step product which BM says gives clients a clear path back to the mainstream market.

BM set up an online service last January and says it is now getting 90 per cent of its business online. It claims brokers can secure a virtual offer in under a minute.

Senior product manager Colin Barrett says: “The market was, until a few years ago, dominated by few lenders with expensive and opaque products. These announcements mark our latest step in bringing mainstream values to this market. Our remortgage product will encourage cust- omers to move away from expensive lenders.”


N&P saves the trees

NORWICH & PETERBOROUGH Green Mortgage &#45 4 Year Fixe Rate With Incentives Type:Ethical fixed-rate mortgage Fixed term: Four years Fixed rate: 5.79% Minimum loan: £25,000 Maximum loan: Up to 90% of valuation subject to a maximum of £250,000, up to 85% of valuation subject to no maximum Income multiples: Up to four times principal income […]

Clerical targets IFAs with offset commercial loan

Clerical Medical is launching an offset commercial mortgage to the IFA market and says it could enter the dom-estic mortgage market in the future. The Smartfinance offset mortgage from Bank of Scot-land will be offered through Advice Matters&#39 intermediary support programme. The mortgage is available at between Bank of England base rate plus 1.5 per […]

MER march

In a market that is often perceived to be old fashioned and slow to take up new technologies, the FSA took the upper hand in March when it confirmed its framework for inte- grated regulatory returns. For the first time, the FSA defined a technology that, alongside XML (eXtensible mark-up language), regulated firms must use […]

Leeds & Holbeck launches combination mortgage

Leeds & Holbeck Building Society is launching a combination mortgage offering a 1.75 per cent discount from its SVR for the first two years, giving an initial rate of 4.99 per cent, followed by a capped rate of 5.75 per cent until November 2009. L&H says the loan is is unique in the marketplace. It […]


Guide: reporting to the Pensions Regulator — what and when?

Johnson Fleming has published a step-by-step guide demonstrating the importance of record keeping and reporting, and how it can ensure you operate a successful scheme. The guide takes you through some key questions you need to ask and identifies the information you need to obtain. The topics include: why you need to keep records and the benefits of doing this; registering your scheme; what information you need to record to ensure you meet the Pensions Regulator’s requirements; and what items need to be recorded and when.


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