GMAC-RFC and Market Harborough Building Society have today announced their third through lending product. The product is marketed by GMAC-RFC and Market Harborough Building Society acquires the mortgage assets the day after completion. The new product is called The Stepped Lifetime Discount Mortgage and is to be marketed through intermediaries on a semi-exclusive basis. The product's rate is 2.99 per cent for the first year. A discount of 1.50 per cent is offered in the second year, and a 1 per cent discount thereafter for the lifetime of the mortgage. A cashback of £350 is offered to customers, and there is no application fee on remortgages up to £300,000.
Type: Fixed rate buy-to-let mortgage Fixed term: Until December 1, 2006 Fixed rate: 4.99% Minimum loan: £25,000 Maximum loan: Up to 75% of valuation subject to a maximum of £500,000 Income multiples: Up to 3.25 times principal income plus second, 2.5 times joint, or rental income must be at least 130% per cent of monthly […]
New insolvency rules came into effect this week which make it easier for companies to go into insolvency. The Enterprise Act's insolvency section now lets company directors put their firms into administration without entering the court system. It also sets more rigid limitations on how much time companies are able to spend in administration. Additionally, […]
Charcol is offering an initial fixed rate of 2.25 per cent on its federal reserve tracker mortgage until the end of March. The loan is a fix and track mortgage based on the lower US short term interest rates.
There is a vast gap between theory and practice when it comes to industry views on depolarisation, according to research from financial services marketing agency CCHM.An in-depth qualitative survey of 16 directors and managing directors of some of the industry's top manufacturers and distributors reveals that the industry's actions are not matching up with its […]
By Rob Burnett, Head of European Equities In recent weeks equities have been buffeted by two shocks occurring at the same time: China’s devaluation of the renminbi and the prospect of the US Federal Reserve (Fed) raising interest rates. The market is not comfortable with the Fed raising rates at the same time that China […]
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OMGI chief executive and star fund manager Richard Buxton is set to lead a management buyout of the single-strategy funds division of Old Mutual Wealth with the backing of TA Associates. The £550m deal is set to be announced before Christmas, Sky News reports. The buyout is part of Old Mutual’s managed separation, which is […]
Recently regulatory changes have led to a much greater focus being placed on everything the end client pays. For asset managers, there has been a greater focus on a fund’s AMC and ongoing charges figure. This has helped passive funds gain significant inflows over the last couple of years and generally they are much cheaper […]
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