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Homeowners could save £8.1bn a year – Clear Cut

The average UK homeowner could save £66.75 a month by switching from their current mortgage to a better product, according to research from Clear Cut Mortgages.

Clear Cut says this would reduce the average UK annual household repayment from £5,167 to £4,366 on an average outstanding mortgage balance of £63,250.

This would equate to cutting national mortgage repayments by £8.1 billion a year, or 16 per cent of total repayments.

Sales and marketing director Ben Thompson says: “It is surprising that the message has failed to get through to borrowers that they can make real savings on their mortgage, simply by switching to another rate. What is perhaps most interesting is that this is against a backdrop of increasing interest rates and there must be a good number of borrowers that are starting to feel the pinch of higher rates.”


Bank of Ireland fined for doing the right thing

I have just read about the £375,000 fine that Bank of Ireland has incurred as a result of bringing to the notice of the FSA and police a “suspicious&#39 set of transactions. While I agree whole-heartedly with the money-laundering procedures and the whole point behind them, I feel the size of the fine is excessive. […]

Insinger in multi-manager index call

Investment bank and multi-manager Insinger de Beaufort has called for multi-manager performance to be measured by its own index so that funds of funds can be truly compared. Speaking at the Sway conference in Monte Carlo last week, director Peter Fitzgerald said IFAs are subjected to undue risk and are unable to make inf-ormed decisions […]

Schroders – Schroder S&P Strategic Balanced Portfolio

Type: Unit trust multi-manager fund of funds Aim: Growth by investing in a portfolio of 12-15 funds Minimum investment: Lump sum £1,000 Investment split: 54.7% Uk equities, 10.5% Europe ex UK, 10% sterling bonds, 6.6% Japan, 5.3% Asia ex Japan, 3.5% US, 3.3% emerging markets, 6.1% cash Isa link: Yes Pep transfers: Yes Charges: Initial […]

Red letter data for the industry

The use of data systems to provide market intelligence, such as the Touchstone databases offered by Workload Financial Solutions, will become increasingly important in the mortgage market after M-Day. Information on what competitors are doing and who is transacting the most business in which areas will be crucial to businesses that want to come out […]


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