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Fixed loan aims to beat inflation fears

Mortgage 2000 is offering a two-year fixed-rate loan aimed at protecting borrowers from interest-rate fluctuations in the run-up to the general election.

The rate is fixed at 6.49 per cent until August 1, 2002 for loans up to 95 per cent loan to value. There are no overhanging redemption penalties.

This deal is being offered in conjunction with Bristol & West. Minimum loan is £15,001 and there is 1 per cent cashback.

IFAs receive a procuration fee of 0.35 per cent of the loan.

Chief executive Simon Nixon predicts fixed-rate mortgages will be popular with a general election on the way. He says: “If, as some City pundits believe, the Chancellor&#39s spending plans are inflationary, this will lead to nervousness in the mortgage market. This is the first in a series of special deals that will be announced over the next few months.”


SALTR standards could cost companies millions

The cost of implementing accreditation standards could run to millions per company says the ABI. Under its Savings and Long Term Risk initiative beginning in October could cost up to millions per company to comply. Compliance with the standards will be rewarded by a quality mark from the Pensions, Protection and Investments Accreditation Board, a […]

Skipton Building Society launches two-year growth mini cash Isa

Skipton Building Society has joined the very small number of companies providing capital protected Isas, with the two-year growth mini cash Isa.The Isa, has an unlimited term, tracks the FTSE 100 index for the first two years. It is aiming to grow by one per cent for every one per cent increase in the index, […]

Employers need advice

For the vast majority of employers, the days when it was possible to ignore pension provision are numbered. By October 8, 2001, all employers should have carried out an audit of their pension provision. Failure to comply with the new requirements could result in a fine from Opra. The safest approach for any employer is […]

Revenue loses tax fight with converted societies

The Inland Revenue has lost a landmark tribunal ruling over the taxation of building society costs when they convert to banks.A tribunal found in favour of four former societies in their dispute with the Revenue over whether their conversion costs, such as legal and advisers&#39 fees, were tax- deductible.According to law firm Clifford Chance, the […]

Greece: the sideshow continues

Artemis managers James Foster, Mark Page and Laurent Millet comment on the Greek deal, describing it as “just another fudge” getting in the way of bigger developments in China, the UK and the US. To read the full article click here.


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