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Leeds & Holbeck slashes 5-year fixed shared ownership rate

Leeds & Holbeck Building Society is cutting its 5-year fixed rate shared ownership mortgage to 4.99 per cent.

It has no higher lending charge and customers can borrow up to 100 per cent of their share.

The product is available immediately, while Leeds & Holbeck will become Leeds Building Society on September 12.

The 4.99 rate is available until December 1, 2010 and is available up to 75 per cent LTV.

Leeds & Holbeck corporate relationship manager says: “We have slashed our 5-year fixed rate shared ownership by 0.80 per cent to offer this product. The reduction means that, on an average loan of 61,000, a customer will save 488 a year on an interest only mortgage.”


Treasury Sipp rules are dividing industry

The Treasury’s consultation on Sipp regulation is splitting opinion in the pension industry. Some advisers and providers say it is an anomaly to have stakeholder and personal pensions regulated when Sipps are not. Others claim that regulating the Sipp wrapper would not deter investors from putting alternative unregulated investments in Sipps and would saddle providers […]

Andrew Fisher takes over from Strauss at John Scott & Partners

John Scott & Partners chief executive Toby Strauss has quit to pursue other opportunities, although he will still have a part-time advisory role with the IFA. Chairman Andrew Fisher will take over, becoming executive chairman, and says he hopes he can continue the growth that Strauss created. The firm came to a collective decision that […]

FSA approves Britannic merger

The merger of Britannic Group and Resolution Group has been appro- ved by the FSA. The new closed life fund consolidator will now be called Resolution plc.

Shareholder loses fight over Murray VCTs

Shareholder Charles Clark has failed to replace the directors of Murray VCTs 1 to 3 after a three-month campaign backed by Aberdeen. Clark gained 22 per cent of votes at an EGM held by Murray VCT 2 on Monday to remove the four existing directors and replace them with his proposed directors, and 28 per […]

Greg Broomer 2

Survey looks at the challenges facing businesses post auto-enrolment

A survey conducted by Johnson Fleming at the Pension & Benefits Show 2014 highlighted the key challenges faced within organisations post auto-enrolment. The results showed that communicating the changes and the value of them to staff, and receiving timely data from the payroll provider proved to still be the most challenging aspects of managing an auto-enrolment scheme.


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