View more on these topics

L&G launches 3 year fixed rate mortgage

Legal & General is launching a mortgage fixed at 5.25 per cent for three years for borrowing up to 75 per cent loan to value. After three years the loan returns to L&G&#39s standard variable rate, currently 6.35 per cent.

The mortgage has flexible features including overpayments without redemption charges, underpayments and payment holidays. Although redemption penalties apply if the loan is completely paid off during the fixed rate period.

L&G Bank managing director Mike Bury says: “Interest rates are at historically low levels but there is no guarantee they will stay this way over the medium to long term.”

Recommended

Furness Building Society – FirstRate

Monday, 23 April 2001.Type: Accident, sickness and unemployment insurance.Maximum benefit: £1,500 a month or 65 per cent of income, whichever is lower.Benefit payment term: 12 months.Deferred period: 30 days.Premium: £3.95 per £100. Free cover for 12 months for new mortgage borrowers.Commission: None.Tel: 0800 834312.

INSIDE EDGE

The annual report from the Financial Services Consumer Panel in March proved it really is an independent voice. The report supplies telling research for IFAs to use in their dayto-day business. The report states “Consumers in general are not proactive in their approach to their finances. As a result, they rely heavily on advisers and […]

NU cross-subsidy for stakeholder

Norwich Union is to cross-subsidise a 5.75 per cent bonus rate on its with-profits stakeholder plan with funds from its traditional with-profits fund if the stakeholder version should underperform. Existing with-profits policyholders will not receive any reward for funding the returns but NU believes the chance of having to make a payout is slim. Industry […]

Competition Commission to examine profits of banks and building societies

The Competition Commission will look into the profitability of the UK&#39s leading banks and building societies as part of its investigation into Lloyds TSB&#39s bid for Abbey National. It will also examine the role played by IFAs in helping customers find best-buys, levels of inertia and whether product choice would diminish as a result of […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    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

    Email: customerservices@moneymarketing.com