View more on these topics

Five by five

BRISTOL & WEST MORTGAGES5.05% Five Year FixedType: Fixed-rate mortgageFixed term: Until March 31, 2010Fixed rate: 5.05%Minimum loan: £15,001Maximum loan: Up to 95% of valuation to a maximum of £150,000, up to 90% to £450,000, up to 75%of valuation subject to a maximum of £1mIncome multiples: Up to four times principal income plus second or 2.75 times jointArrangement fee: £399Conditions: Free valuation, free legal fees for remortgagesRedemption fee: 4% of the original loan until March 31, 2010Introducer’s fee: Refer to lenderTel: 0117 943 7755Bristol & West’ s 5.05 per cent five-year fixed-rate mortgage is available up to 95 per cent of valuation. London & Country mortgage specialist James Cotton feels this is a competitive rate. He says: “Five-year fixed rates have plummeted recently, with a number of them now below 5 per cent. This offering is just above that mark but it offers a free valuation and free legal work for remortgages. Those with loans of £200,000 or more may get the best value from the lower rates available but for others looking for stability over five years, this will represent a good deal.”

On the downside, Cotton mentions that there is no flexibility. He says:”Borrowers should make sure they are happy to be tied into this deal for five years without the ability to make penalty-free overpayments. Interest on this scheme is calculated on an annual interest basis rather than daily.”

Cotton concludes that Derbyshire, Leeds & Holbeck and Cumberland , which offer five-year fixed rates at 4.94 per cent, 4.95 per cent and 4.99 per cent respectively, are likely competitors to B&W.

BROKER RATINGSSuitability to market: GoodFlexibility: PoorCompetitiveness ofmortgage rate: GoodAdviser remuneration: AverageOverall 7/10


Review of 2004: SOFA/LIA merger

Since the merger of Sofa and the LIA was proposed in July members and former board members have had a field day finding fault, not least with the name of the new body, the Personal Finance Society.

Out of context

“I feel like I am walking into the lion’s den wearing a meat suit.” – Portfolio Insurance Consultancy principal Brian Lentz before an appointment with the FSA.”A duvet day! He won’t last long in PR.” – Penrose PR partner Louise Hatch about former MM investment editor turned PR Chris Duncan shortly before her departure.”Hello, I’m […]

Review of 2004: Politics

The year in politics saw pensions rocket to the top of the political agenda. The Pensions Bill saw the creation of an industry-funded compensation fund for wind-up victims and a pension regulator.


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