View more on these topics

Exclusive Connections brings in mig-free self cert

Exclusive Connections has introduced the Mig-free self-cert mortgage.

It has a discount of 1 per cent until October 1, 2002, giving it a payable rate of 5.99 per cent for loans of up to 85 per cent of valuation. There is no mortgage indemnity guarantee.

The mortgage is aimed at self-employed people who have had trouble getting a mortgage in the past because they have had difficulty proving how much they earn. It is also open to employed people. Applicants can have up to three county court judgements made against them, to a combined maximum of £1,000. Self-employed applicants must be able to prove that they have been trading for at least two years.

There is also an arrangement fee of £299 and a redemption penalty of three months’ interest in the first year, two months’ interest in the second year and one months’ interest in the third year.

Figures from Datamonitor show that in 2000 approximately 3.3m people in the UK had a credit history that included a CCJ made against them, making up 9 per cent of the working population.

According to Moneyfacts on August 3, 2001 the most competitive one-year discount self-cert mortgage is from Pink Home Loans. This has a discount of two per cent until October 1, 2002 for loans of up to 85 per cent of valuation. The mortgage has an arrangement fee of £299 and a redemption penalty of three months’ interest in the first year, two months’ interest in the second year and one months’ interest in the third year.


Raising Standards accepted by EC

The Raising Standards quality mark scheme has been told by the European Commission&#39s Directorate-General for Competition there are no grounds for further scrutiny of its application under European competition law.Industry Standards Group, which has drew up the standards underpinning the scheme, chairman Lawrence Churchill says: “We are delighted that Raising Standards has been given a […]

Furness strives for five-year best

Furness Building Society has introduced a five-year fixed rate mortgage that is available for loans of up to 80 per cent of valuation.The mortgage is fixed at 5.74 per cent until July 7, 2006 and the maximum loan is £150,000. An early redemption penalty of 5 per cent of the loan is payable during the […]

Northern Rock rolls out three savings bonds

Northern Rock has launched three new fixed rate bonds with fixed interest rates of 5.80 per cent gross for one year, 5.90 per cent gross for two years and 6.00 per cent gross for three years.The bonds will be available from August 7 with a minimum opening balance of £500 and a ceiling of £2m. […]

The Daley Update

Legal & General has redrawn the terms and conditions on its unit trust range, axing many of its withdrawal char-ges and introducing monthly savings plans. All L&G index unit trusts, as well as the fixed-interest trust, high-income trust and ethical trust, will have their 1 per cent withdrawal fee removed from July 31 while all […]

Seeking quality in uncertain markets

By Ewan McAlpine, Senior Client Portfolio Manager In uncertain times, investors naturally seek safety. But in fixed income markets, what does that really mean? Ewan McAlpine outlines the approach RLAM’s Fixed Income Team will be adopting across its credit funds in response to potentially volatile markets this year. Click here for full article


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm