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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.”


Paymentshield frees up protection menu

Paymentshield has introduced FreeFirst, a menu-style protection plan that has three parts — accident, sickness and unemployment (ASU) cover, life & critical illness cover and buildings & contents insurance.The plan is aimed at homeowners with mortgages who need to protect their mortgage repayments in case they are unable to work or fall ill in the […]

Former Bank of England official and Guardian journalist replaces Johnson

A former Bank of England official and Guardian journalist Ruth Kelly has been appointed as Treasury economic secretary replacing Melanie Johnson.Kelly is one of several up and coming women promoted to junior ministerial positions. Kelly was formerly a parliamentary private secretary to Nick Brown when he was Agriculture Secretary. She is responsible for the financial […]

Paymentshield – FreeFirst

Wednesday, 13 June 2001.Type: Cafeteria style protection product covering accident, sicknessand unemployment cover, life cover, critical illness cover andbuildings and contents insurance.ASU MORTGAGE PROTECTION PLANSMaximum benefit: £1,500 or 65 per cent of salary whichever isless.Benefit payment term: 12 months.Deferred period: 30 or 60 days.Premium: 30 day deferred period – £3.95 per £100 of cover, 60 […]

Canada Life unit trusts upgraded

Three of Canada Life&#39s unit trusts have been upgraded to &#39A&#39 rating by Standard & Poor&#39s.The three trusts are the Balanced Unit Trust, Japanese Growth Unit Trust and High Income Unit Trust.Canada Life UK client fund manager Gavin Watson says: “Our fund management team is delighted with these ratings. It is especially gratifying that 20 […]

Pensions - thumbnail

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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