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First National launches new discount mortgage

First National Mortgage Company is launching a new discounted standard variable rate-based mortgage this week which it says is targeting borrowers who want to minimise monthly payments in the early months.

It offers a discount of 1.25 per cent off the SVR of 5.99 per cent for the first six months giving a current starting rate of 4.49 per cent.

It has a LTV of up to 90 per cent and a maximum loan of £300,000. Procuration fees are 1 per cent for intermediaries and 1.5 per cent for packagers.


Decision trees could take in stakeholder suite to curb misbuying

Decision trees could be extended to cover the Sandler review&#39s stakeholder suite of products in a bid to prevent a rash of misbuying and to conform with future European law.An overlooked clause of the Sandler report acknowledges potential for consumer detriment in the stakeholder suite of products, such as when the investor has not got […]

No buyer shortage as IFAs sell up

More IFAs than ever before are looking into selling their firms after the publication of the Sandler report, according to business consultancy Amas.The firm, which specialises in IFA purchase, sales and mergers, says it has seen a notable increase in the number of IFAs looking to sell.The company believes that in the wake of the […]

IR propose changes to Isa regs

Isa providers will no longer be allowed to lock-in investors for long periods, prevent them from withdrawing or transferring their funds under changes to the regulations released this week.Assuming the Treasury approves of the new rule changes, as of October 1 Isa managers will no longer be able to require lock in periods for five […]

AMP closes Pearl and London Life to WP bond sales

AMP is closing its Pearl and London Life subsidiaries to with-profits bond and annuities business as part of a review of the capital management of its UK business.AMP group chief financial officer Marc de Cure says heavy declines in the markets since June had accelerated a number of capital management initiatives.The company admits it has […]


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