View more on these topics

Forty-year hitch on discount mortgage

Independent Mortgage Collection has launched a new mortgage with a discount which it claims is worth up to 40 per cent off the lender&#39s standard variable rate.

But the loan would have to run for 40 years to feel the maximum benefit of the discount which is applied at 1 per cent a year for the full term.

The current rate is 6.78 per cent. The lender Verso guarantees the standard variable rate will not exceed the Bank of England base rate plus a set margin of 1.99 per cent for the term. Interest is charged on a daily basis.

The mortgage is available for loans to value of between 75 and 95 per cent, depending on the size of the loan. Minimum loan is £25,001 and maximum £5m. There is no arrangement fee and no redemption penalties.

IMC chief executive Simon Knight says: “We have seen recently the launch of a 25-year capped-rate mortgage which sold out very quickly. This clearly shows significant demand is out there for longer-term mortgages.”


Standard Life is entering the with-profits bond market for the first time

Called With Profit Bond, it is a unitised with-profits product aimed at low to medium risk investors. It can be set up to provide either income or growth and a terminal bonus is paid in the event that the bond is encashed by the investor.Standard Life has chosen now to come in the the with-profits […]

Close Finsbury Asset Management launches Eurotech trust

Close Finsbury Asset Management is getting plugged into the European technology market with the Eurotech trust.Eurotech is an investment trust aimed at experienced investors and pooled fund managers who are looking for exposure to the European technology market.The product is aiming for growth by investing in European companies that are involved in technology-related areas. These […]

Pru and TUC link for stakeholder

Prudential has teamed up with the TUC to offer a stakeholder product to union members.The TUC hopes the reputation of the Pru coupled with the TUC&#39s stamp of approval, will dispel any concerns about investing in a stakeholder.The product will be geared towards the 500,000 affiliated TUC members who are not members of an occupational […]

Networks fear heavy PIA fines

IFA networks are bracing themselves for a series of heavy PIA fines in the wake of the £125,000 fine which was recently imposed on Berk-eley Independent.Industry sources say networks are waiting to see if the regulator slaps an even bigger fine on the next network in line, given that successive fines for failings over the […]


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