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Brokers wary of 20-year fixed deal

Newcastle Building Society is offering a new 20-year fixed-rate homeloan at 5.49 per cent for direct customers.

Loans can be between 15,000 and 250,000 up to 90 per cent loan to value. There is a 499 completion fee and early repayment charges range from 1 per cent to 6 per cent.

Purely Mortgages chief executive Mark Chilton says: “The rate is good but it is not a product that intermediaries would sell as they are worried about locking people in for a long time because of the uncertainties involved.”

Newcastle marketing and new media manager Steve Urwin says: “It is ideal for people who want to fix their mortgage repayments for a substantial period with the peace of mind that they will not be affected by any changes to the Bank of England base rate.”


FSA fines Berry Birch & Noble former chief

Berry Birch & Noble Insurance Brokers former chief executive Paul Harrison has been fined £17,500 by the FSA for failing to have proper systems and controls in place to protect customers’ money held by the firm.BBNIB was authorised as a general insurance broker between Januray 14 2005 and May 8 2006. In July 2005 the […]

Put focus on value rather than costs

Increase in state pension ageRather than one specific state pension age, we would prefer to see a flexible decade of retirement, during which benefits can be taken or can be delayed.The basic state pension will be increased in line with average earnings as opposed to prices, probably from 2012This is to be welcomed although the […]

Network Data set for floatation

Network Data is to float on the Alternative Investment Market from Thursday.The mortgage network’s parent company Network Data Holdings will be valued at £11.24m with shares at 40p each. The company had planned to float in June but that date was subsequently put back.Network Data Holdings is the holding company of Network Data, Network Surveyors […]

Schroders adds Goldman Sachs dynamic fund to its portfolios

The Schroders multi-man-ager team has added Goldman Sachs dynamic opportunities – the biggest London-listed hedge fund of funds – to all three of its multi-manager portfolios. Dynamic global opportunities is a closed-ended fund of hedge funds which raised 274m during an initial public offering in July. The fund has a relatively concentrated portfolio and is […]

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White paper — Nigeria International Insights

Jelf Employee Benefits closely examines healthcare provision and challenges within Nigeria. This will be of particular interest to HR decision makers with employees based in Nigeria, and assesses the environment, risks, facilities and safeguards that are relevant to organisations that are actively deploying expatriate staff in this location.


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