View more on these topics

Flexible friends at Market Harborough

The strength of the remortgage market could mean greater interest in Market Harborough&#39s flexible two-year discount mortgage, which is available for first-time buyers and remortgages up to 90 per cent of valuation.

Mortgage lending fell from £10.1 billion in December 2000 to £9.5 billion in January 2001, but the Council for Mortgage Lenders found that remortgaging went against the grain and rose from £2.9bn to £3.1bn.

The Market Harborough product has an interest rate of 5.24 per cent and if borrowers redeem during the first two years, they must pay six months&#39 interest.

The mortgage is fairly flexible in that it allows overpayments, payment holidays, lump sum withdrawals and interest is calculated daily. But it lacks the ability to underpay, which means it is not as flexible as some mortgages.

According to Moneyfacts, Woolwich open plan is the only other flexible two-year discounted rate mortgage currently available. But it is for remortgages only up to 90 per cent of valuation. It has the same redemption penalty as the Market Harborough, but at 5.70 per cent, the interest rate is higher. However, the Woolwich mortgage is more flexible than the Market Harborough mortgage as it allows underpayments and also has an account facility.


Stamp out stamp duty campaign goes electronic

Action group Stamp Out Stamp Duty is relaunching its efforts to lobby the Chancellor to scrap stamp duty on share dealing in next week&#39s Budget. The campaign, led by the Association of Private Client Investment Managers and Stockbrokers, is aiming to get as many names on its electronic petition as it can before the March […]

Needs must in targeted Budget

The Chancellor will stick to his guns and not try to bribe the electorate with a give-away Budget. There will be targeted tax cuts for those in most need. Families and pensioners will be the winners. I expect to see some changes in respect of pensions and annuities. It is no secret that annuities are […]

Isa hidden charges slammed

Investors in Isas are paying additional charges not included in the annual management charge amounting to £22m a year, according to fund researchers Fitzrovia International.The discrepancy comes from non-investment management charges, paid to third parties such as administrators, trustees and auditors, which are not always included in the stated management charges.Fitzrovia chief executive Paul Moulton […]

Norwich Union cash plan targets singles

Norwich Union is aiming its employee only healthcare cash plan at companies who want more affordable benefits for their single employees.It gives employees the benefits of its existing company cash plan that relate to single people but at half the cost. This plan does not cover partners and children.The plan has five levels of cover […]


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