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First Active steps in with mortgages for intermediary sector

Royal Bank of Scotland&#39s Irish subsidiary First Active is moving into the UK intermediary market with two mortgages.

It is offering a two-year discount and a five-year stepped loan. The discount features a rate of 4.04 per cent until 2006, reverting to Bank of England base rate plus 0.69 per cent.

The five-year stepped mortgage starts at 3.14 per cent for the first year, moving to 4.44 per cent in the second year, 5.24 per cent in the third, 5.74 per cent in the fourth and 6.14 per cent in the fifth. From the sixth year the rate is 0.69 per cent above bank base rate. Loans up to 100 per cent are available. There is an arrangement fee of £299 for purchase and £399 for remortgages. Income multiples are based on affordability.

First Active head Jayne-Anne Gadhia says: “Our first two products offer competitive initial and long-term rates backed by a quick and efficient service which will minimise paperwork for intermediaries.”


Schroders appoints Custard

Schroders has appointed Curt Custard as head of multi-asset solutions.Custard, who joins from Allianz Dresdner Asset Management, will take responsibility for strategic asset allocation for clients.He says: “This role provides an exciting opportunity to develop a full range of client focused multi-asset solutions using the extensive range of research and fund management resources at Schroders.”


“Absolutely. It would be great to have someone around to help us understand key issues, so we would know what is expected of us, know about deadlines and compliance – in plain English.”Eileen Hogg,Hogg Financial Services “Yes. It will give us more of an insight into how the regulator works.”Douglas Wilson,Douglas Wilson Financial Consultant “Yes […]

Lacomp – British Enterprise EIS Fund 3

Type: Enterprise investment scheme fund Aim: Growth by investing in unquoted small and early stage companies Minimum investment: Lump sum £3,000 Closing date: July 31, 2004 Charges: Initial 2.5%, annual 1.5% Commission:Initial up to 4%, renewal 0.5% for first three years Tel: 01726 475123

Skipton launches new mortgage range

Skipton Building Society has launched a new range of mortgages which includes a flexible three year fixed rate mortgage at 5.69 per cent, a flexible three year capped rate mortgage at an initial rate of 4.99 per cent (capped at 5.75%) and a flexible base rate tracker at an initial rate of 4.50 per cent. […]


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