Arc Fund Management is offering its fifth enterprise investment scheme fund for private investors. IFAs will get up to 3 per cent initial commission and 0.33 per cent trail for three years. Minimum investment is 2,000 and the offer closes on October 5.
Following Mark Harris’s column last week, further comment on high arrangement fees may be helpful. High percentage-based fees came to prominence 18 months ago when The Mortgage Works introduced a buy-to-let 4.99 per cent three-year fix with a 1.5 per cent fee to address the challenge of rental cover requirements at higher interest rates. This resulted in many more landlords being able to borrow 85 per cent than with a normal fee and a higher rate. This mortgage was so successful that many other BTL lenders followed suit and nowadays high percentage or high fixed fees are also common in the mainstream and self-cert markets.
The Mortgage Works
Two Year Fixed Rate Buy-To Let
Tax Planning, Tony Wickenden
Rowanmoor Pensions completed its management buyout of the SSAS business of James Hay Pension Trustees and the regulated business of James Hay Investment Services this week. The buyout was led by former James Hay Consultancy directors Ian Hammond and David Seaton.
Johnson Fleming has launched its new managed auto-enrolment service, designed to support SME businesses of up to 250 employees. The managed auto-enrolment service is not just about providing businesses with a software system for them to manage themselves, but more about outsourcing the administration of the project and scheme to Johnson Fleming’s auto-enrolment staff.
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