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Borrowers look to switch loans ahead of rate rise

Borrowers are increasingly looking to switch their mortgage to take advantage of better deals in anticipation of an increase in rates in the coming months, according to Legal & General.

Its research found that 17 per cent of borrowers intend to move their mortgage in the next year compared with 13 per cent in October 2001.

The number of borrowers expecting interest rate rises has almost doubled to 63 per cent from 34 per cent last October.

Borrowers are confident of property continuing to increase in value, with 73 per cent believing prices will rise compared with 37 per cent last year. One in five view their home purely as an investment and another fifth see it both as a home and investment.

BMRB carried out the research in April in a sample of 940 homeowners.

L&G director of housing marketing Stephen Smith says: “These results point to a modest upswing in the level of remortgaging in the second half of 2002. Consumers are beginning to seek out the better deals. It is not just a case of remortgaging once during the life of a mortgage – more and more people are realising the benefits of reviewing their mortgage arrangements regularly. It can be a simple process to secure an ever better deal and reduce monthly mortgage payments or to swap to a mortgage more suited to a change in family circumstances.”


NIBi – Target Return Fund

Thursday, August 22, 2002Type: Fund of hedge fundsAim: Growth by investing in hedge fundsMinimum investment: Lump sum £20,000, US$ 25,000Place of registration: Isle of ManInvestment split: 100% in hedge fundsIsa link: NoCharges: Initial up to 5%, annual 1.75%Commission: Subject to negotiationTel: 01624 630300

Mortgages plc appoints two new sales managers

Specialist lender Mortgages plc has appointed two senior sales people as part of the restructure of its sales and marketing team. Mark Harrison and Bryn Hancock take up the new positions of regional managers for the north and south of the UK respectively. Harrison joins from Bank of Ireland where he was corporate lending manager […]

Bupa International launches IFA targeted website

Bupa International has launched a website targeted to insurance intermediaries allowing them to carry out day-to-day business almost entirely over the internet.The provider says Intermediaryworld is a user friendly site, which is simple and easy to navigate and enables fast download.It is broken down into six areas, quotes, brochures, administration, commission, news and global information.Bupa […]

Deutsche Asset Management – DWS European Opportunuities Fund (Europe ex-UK)

Wednesday, 21 August 2002 Type: Oeic Aim: Growth by investing in European equities excluding UK Minimum investment: Lump sum £1,000, monthly £25 Investment split: 100% in European equities excluding UK Isa link: Yes Pep transfers: Yes Charges: Initial 4.25%, annual 1.5% Commission: Initial up to 3% Tel: 0800 917 0005

State of the markets: UK equity income

Artemis Income Fund manager Nick Shenton discusses the state of the UK equity income market with journalist Alexis Xydias. With the first three months of 2015 showing strong returns for both the Artemis Income Fund and UK markets generally, Nick Shenton discusses the fund’s top contributors – including overseas holdings Novartis and Bayer – and […]


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