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Ceta secures deals for members as it links with BOS

Non-regulated network Central Electronic Trading Association has negotiated deals with the Bank of Scotland on a range of financial products for its 3,000 members, including IFAs and mortgage brokers.

The deals have been negotiated through network panel lender Zurich Bank which has a partnership agreement with Bank of Scotland.

Ceta&#39s members and their clients will get preferential rates on offset mortgages for small businesses, free business banking and finance for vehicles and equipment.

The offset loan, called Business MortgageSaver, is intended to help firms cut the costs of owning a commercial or investment property.

It includes a commercial mortgage and current account link for interest calculation.

Credit balances on the current account will earn an interest rate of 4 per cent offset against interest on the commercial loan.

The mortgage offers daily interest. Commission is 0.2 per cent of the loan.

Members can use free direct business banking by phone or internet and the package includes free standing orders, direct debits and no fees on the setting-up of overdrafts.

Ceta managing director David Quick says: “These products will not only enable our members to significantly red-uce the costs of running their own businesses but also offer the opportunity to earn additional income through introducing their commercial cli-ents to the Bank of Scotland.”

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