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HMC in rebrand

Household Mortgage Corporation, the centralised lender owned by First National Bank, is to rebrand as First National Mortgage Company.

FNMC is set to be laun-ched on October 2 and will operate through registeredintermediaries, taking over HMC&#39s existing residential mortgage book which is worth over £1bn.

FNMC will accept mortgage applications from brokers from October 2 and new products will be available on October 23. It will have no involvement in the second-mortgage market, where it says First National Bank is already a leading provider.

HMC is not disappearing as a company but it will be the FNMC brand through which IFAs and customers deal.

FNMC sales director Ron Howell says: “Through HMC, First National has proved it can compete successfully in the UK&#39s intermediary-led residential mortgage market.

“Now, the First National Mortgage Company will provide a direct association with the First National name for the first time. Not only does this give us the opportunity to achieve a stronger presence but also, we believe, to open up the mortgage market in innovative ways which will bring direct benefits for consumers.”


John Charcol – Three-Year Fix

Friday, 29th September 2000.Fixed term: Three years.Fixed rate: 5.89 per cent.Minimum loan: £75,000.Maximum loan: Up to 75 per cent of valuation subject to a maximum of £750,000.Income multiples: 3.5 times principal income plus second or 2.5 times joint.Arrangement fee: £444.Redemption fee: 3 per cent of advance for first three years.Conditions: None.Introducer&#39s fee: Nil.Tel: 0800 718191.

Lloyd George Management – Global Information Fund

Friday, 29th September 2000.Type: Open-ended investment company.Aim: Growth by investing in technology, media and telecommunications.Minimum investment: Class A shares – £1,000, class B shares £500,000.Investment split: US 50 per cent, Japan 15 per cent, UK 10 per cent, other 25 per cent.Isa link: Yes.Pep transfers: Yes.Charges: Initial &#45 A shares 3.5 per cent, class B […]

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