Coventry Building Society is offering home loans over the internet. Its introductory mortgage is at 5.39 per cent fixed until early 2003 or there is a discounted rate deal of 2.35 per cent off its standard variable rate which stands at 7.7 per cent. Coventry will also pay for the valuation and legal costs.
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Private Label launches mainstream mortgage
Costs associated with buying a home such as legal fees and stamp duty are slowing down the housing market, according to Private Label. The mortgage packager is launching a mainstream discount mortgage which allows house buying costs to be added to the loan up to a maximum of 105 per cent LTV with no MIG […]
Portman's 5.99 per cent is cheapest on market
Portman Building Society has brought in the 5.99 per cent fixed rate mortgage. Aimed at first time buyers and remortgages, the mortgage is fixed for five years at 5.99 per cent for loans up to 95 per cent of valuation. At the end of the fixed rate period the mortgage will revert to Portman's standard […]
Moneyextra is sold in switch back to B2B
Moneyextra is ditching its consumer portal and going back to concentrate on the intermediary sector with a complete e-commerce service geared up for multi-ties.The Moneyextra consumer site, which has been a source of financial strain on the company, has been sold to Bristol & West for £26m.Many users had accused Money extra of neglecting its […]
Seam star manager quits for hedge fund
Scottish Equitable Asset Management has lost the star manager of its American assets fund, Neil Smeaton.Smeaton, who has been Seam's head of US equities for four years, is leaving to run a hedge fund. He is one of a raft of senior fund manager to quit top UK investment houses recently and move into the […]
How QE is distorting the gilt market
By Mike Riddell The moves in gilts in August were truly exceptional. Volatility in the gilt market (based off 10-year gilt futures) has soared to close to the highest levels seen this millennium, on a par with the eurozone debt crisis of 2011/12 and behind only the global financial crisis of 2008/09. The first distortion […]
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Pensions minister urges providers to use e-signatures
The pension industry is changing rapidly, supported by this government’s development of the pension dashboard, the introduction of collective defined contribution pension schemes and a consultation on the regulation of defined benefit superfunds. We are unleashing innovation and opening up options for pension schemes members and employers. These reforms will bring the pension industry into the […]
MAS to launch drawdown comparison tool
The Money Advice Service aims to launch a prototype version of a drawdown comparison tool aimed at non-advised, mainstream customers in spring next year. The guidance body’s senior policy manager Teresa Fritz shared details about the tool that is being designed in collaboration with the Association of British Insurers. Speaking at a Westminster Business Forum […]
Karen Ward: Is the European recovery on track or faltering?
Trade tensions and Brexit are concerns ahead of 2019 European equity markets have had a tough year. The economy has failed to live up to the expectations at the start of the year that European growth would be fuelled by easy financial conditions and falling unemployment. Regional business confidence surveys have fallen steadily since January. […]
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