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Good intentions as the property market levels out Britannia fixes for two years and caps for three

Britannia Building Society is offering a five-year loan which is fixed for the first two years and then capped for the remaining three years of the term.

The 2+3 Mortgage is fixed at 3.49 per cent for two years then capped at 5.99 per cent for three. The loan is available up to 95 per cent LTV and has a £295 arrangement fee.

It also comes with free insurance against gazumping and if the borrower takes out Asu insurance the first six months are covered for free.

The redemption penalties are 360 days&#39 interest in the first and second year, 240 days&#39 interest in year three and 180 days&#39 interest in years four and five.

Head of marketing Alan Long says: “Short fixed-rate mortgages are very popular with customers looking for security as they guarantee a monthly repayment. The 2+3 Mortgage offers customers a little more than a traditional two-year fixed rate – giving them stability for the medium term as well as the short term.”


Prudential debuts drawdown plan

Prudential has established its first income drawdown plan for people who want to take tax-free income from their pension instead of buying an annuity.The plan is available for people with pension funds of at least £100,000 and has a similar structure to Prudential&#39s flexible lifetime annuity account. It provides three investment strategies — cautious, standard […]

RJ Temple in remortgage and equity-release deal

IFA RJ Temple has signed a deal with national broker Mortgageforce to handle enquiries about remortgages and equity-rel- ease products.Mortgageforce estimates that the deal could generate £50m on the back of RJ Temple&#39s new inheritance tax planning campaign. RJ Temple will continue to use Savills for referrals on standard mortgage business.But it felt that Mortgageforce, […]

BoE Life International – With-Profits Bond

Wednesday, 30 October 2002 Type: Single premium bond Aim: Growth by investing in the BoELI Series 4 with-profits fund Minimum investment: Lump sum £25,000 Place of registration: Isle of Man Investment split: 100% in the BoELI Series 4 with-profits fund Isa link: No Charges: Initial – initial fee option £25,000-£99,999 2%, £100,000-£250,000 1.5%, establishment fee […]

&#39Safe drawdown can bring boost in market rise&#39

Current economic conditions make investing in income drawdown now safer than ever, claims the Income Drawdown Bureau.It says the Equitable Life and corporate accounting scandals have scared investors into shunning the stockmarket and instead put their money into annuities, which they see as safer but it says they should also now consider drawdown.The bureau claims […]


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