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Buy-to-let exclusive for IFAs

Scottish Widows Bank&#39s first buy-to-let mortgage is to be distributed exclusively through IFAs.

The loan offers the drawdown facility of the Flexible Account, subject to the mortgage being up to 70 per cent loan to value. The drawdown limit will normally be 10 per cent of the mortgage with a maximum of £20,000.

A capital and interest repayment option is available at 80 per cent LTV, offering a fixed rate of 5.59 per cent and a variable rate of 6.24 per cent.

An interest-only option is available up to 70 per cent LTV, offering a fixed rate of 6.09 per cent and a variable rate of 6.74 per cent.

The procuration fee will vary according to mortgage amount but will range between £150 and £400.

Business development manager Ken Fordyce says: “We have been consistently asked by IFAs for such a product. The Flexible Account option allows customers to draw down money.”


Standard Life launches £1m charity appeal

Standard Life is underwriting a staff charity appeal to the tune of £1m to mark its 175th anniversary next year.Besides the £1m guarantee, the life office will match every pound staff raise up to a maximum £1m.The appeal aims to encourage staff at each of its offices, to raise cash for their chosen charities. The […]

Seven million plan to put cash into Isa

Nearly seven million people plan to open an Isa by September, according to a Mori survey conducted for Newton Fund Managers.The survey will be welcome news to the Government, which is yet to launch its Isa awareness campaign.Newton says about 15 per cent of people think they will invest in an Isa in the first […]

Saunders call for mortgages to be regulated

The Financial Services Authority Consumer Panel has called for long term care and mortgages to be regulated by the FSA.Panel chair Barbara Saunders made the call in evidence to the Joint House of Commons and Lords Scrutiny Committee examining the Financial Services and Markets Bill.She said: &#34The rhetoric of a one stop shop needs to […]

Hill Samuel offers discount on Isa

Hill Samuel Asset Management is discounting the initial charge on its Isas by 1 per cent.The move brings the average initial charge on its funds down to 3 per cent.HSAM has also introduced a multi-link facility allowing more than one fund to be selected under an Isa umbrella.


Case study: administration — implementing a management log

Our client is a leading video game and publishing company best known for its console role-playing game franchises. The client provides a number of benefits, at varying levels and cost that attract a P11d liability. With the absence of a management log to track data for benefit movements, enormous administrative and therefore cost implications were occurring each year just to comply with P11d reporting requirements.


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