View more on these topics

L&G caps the mortgage market

Legal & General’s Mortgage Club has introduced the 5.35 per cent capped rate mortgage.

Aimed at first time homebuyers and people looking to remortgage, the product has a capped rate of 5.35 per cent for loans of up to 95 per cent of valuation for the first two years of the loan. The early redemption charge is six months’ interest for the capped term.

The mortgage has income multiples of four times principal income plus second for loans of up to 90 per cent of valuation and 3.75 times principal income plus second for loans of up to 95 per cent valuation. These are above the market norm of 3.5 times principal income plus second.

The Legal & General product is one of the cheapest two year capped rate mortgages on the market. According to Moneyfacts on February 6, 2001, its only competitor is the 5.35 per cent capped rate mortgage from the Woolwich. This is available for loans of up to 95 per cent of valuation and has redemption penalties’ of six months interest for the capped rate period.


Nothing ventured…

Since venture capital trusts were launched in autumn 1995, they have proved to be a success. By the end of 2000, a total of £1.1bn had been raised by around 50 VCTs. Estimates for last year show that about one in eight new companies backed by venture capital has a VCT as a corporate shareholder. […]

Chelsea and Portman reject bagger moves

Chelsea and Portman building societies have thrown out resolutions from carpetbaggers aimed at triggering windfalls for members. Chelsea, the UK&#39s seventh-biggest society, last week dismissed a conversion resolution from Andrew Naughton-Doe following legal advice that it fell foul of the society&#39s rules. In a statement, Chelsea chairman Tim Barry said the resolution was invalid because […]

Classic trust from Downing

Marsh feels that the inclusion of fixed interests makes very good sense. Wright says: “It seems broader based than some VCTs which often concentrate on say ethical, internet or other themes.”Both adds that the fact that technology shares are currently out of fashion should lead to more realistic prices for investors. Gilbey adds that the […]

Keep splits simple

The thought of integrating complex financial engineering in an Isa may turn off some advisers, particularly in the midst of a hectic Isa season when keeping it simple is likely to be the IFAs&#39 mantra. But despite the pitfalls of technical complexity, there are considerable benefits to investors by using split-capital investment trusts, ways of […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm