View more on these topics

IF slashes two-year offset deal to 4.99%

Intelligent Finance is reducing its Offset 80 tracker mortgage two-year discounted rate by 0.4 per cent, to 4.99 per cent.

The company says the move shows it going one step further than its decision earlier in the month to pass on the Bank of England’s 0.25 per cent base-rate cut to all its variable mortgage borrowers.

Following the introductory period, the mortgage reverts to IF’s standard variable rate of 5.7 per cent.

There are no extended redemption penalties and borrowers can continue to ben- efit by offsetting money in their current savings and Isa accounts against their mortgage.

IF managing director Nick Robinson says: “T he offset market will see substantial growth over the next few years. Millions of borrowers who could make significant savings on their mortgages have yet to try an offset product.

“People with slightly lower loan-to-value mortgages tend to be more active offsetters. The rate reduction on our popular Offset Tracker 80 mortgage aims to encourage more people, who are in a position to maximise the benefits that offset products offer.”

Recommended

Multi-manager View: Full to capacity

One of the frustrations in fund management is when a promising fund manager loses momentum and the success with a small fund gives way to mediocrity after strong asset growth. Sometimes this is ascribed to cashflow issues but sometimes the problem is more permanent, the process has simply run out of capacity.

Wrapping up the future

Financial services is finally on its way out of the “industrial revolution” it has been struggling through and the future looks bright, accord- ing to Millfield chief executive Paul Tebbutt. Tebbutt says financial services is the “powerhouse” of the country, being the biggest single contributing industry towards the UK’s GDP, and he sees increasing flexibility […]

ABI changes data performance rules

The ABI is changing its rules under which providers of investment funds in the life and pensions sector report their past performance data to ensure each fund appears just once in performance tables.

Auto-enrolment: tips for employers

The Pensions Regulator (TPR) has released advice on communications for employers, including three tips to help you with your auto-enrolment duties. 1. Allow enough time to select your pension schemeIt’s recommended that you start to prepare for auto-enrolment at least 12 months in advance of your staging date; additionally, give yourself time to choose the […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment