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Genesis launches self-cert fixed rate

Genesis Home Loans is launching a self-certification mortgage with a rate fixed at 6.99 per cent, after which it reverts to the standard variable rate, currently 7.24 per cent.

Income multiples for the mortgage is 3.5 times main income plus second income or 2.75 per cent times joint income. Maximum loan to value is 75 per cent.

Genesis operations director Nigel Gardner says: “In designing this product we attempted to assess the mortgage needs of the rapidly expanding sector of our working population who are not in receipt of traditional types of income.”

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Preparing for the changes to the pensions market

As more and more providers start to reveal their stance on the charge cap and removal of commission and active member discount pricing, we thought it would be worthwhile to look at what these are, and the steps businesses should be taking to prepare for this.

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