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Lloyds offers chance to overpay without penalty

Lloyds Banking Group is offering all borrowers on variablerate deals the opportunity to make overpayments of up to 20 per cent on their ortgage
without penalty.

The company says the scheme which runs from now until March 31, 2011, will allow clients who can make higher monthly repayments the opportunity to take advantage of the current low interest rates.

Brokers have broadly welcomed the move as positive news for borrowers.

First Action Finance head of communications Jonathan Cornell says the scheme is a “positive step forward”, while David Hollingworth, head of
communications at London & Country, says the flexibility is welcome.

Hollingworth says: “It will help borrowers when rates start to rise and will make life that much easier.

“As mortgage products are driven by the level of equity in your home, if you can push the mortgage balance down – with property prices having
become more stable – then that is improving your loa-nto-value position.”


Partnership for LTC

The King’s Fund has proposed a partnership model for funding long-term care, with the state guaranteeing to pay 50 per cent of care costs and matching individual savings contributions.

Acuity in row over VCT direct discount offer

Advisers have hit out at Acuity Capital after it promised to rebate charges to clients who subscribe directly for a “top-up” on one of its venture capital trusts rather than go through their IFA. In a letter to shareholders on March 5, Acuity offers to rebate 3 per cent of a 5.5 per cent initial […]

Six-year plan from Meteor

Meteor Asset Management has launched the protected FTSE deposit plan, offering a potential growth payment of 45 per cent at maturity. The six-year plan is linked to the performance of the FTSE 100 and offers a 45 per cent investment return, provided the index is at or above itsopening level at maturity. It is designed […]

India: are further rate cuts on the horizon?

By Kunal Desai, head of Indian Equities, Neptune Kunal Desai, manager of the Neptune India Fund, discusses the key drivers of the Indian market’s outperformance and why he expects another rate cut, which will likely further support equities.  Read more here Important Information Investment risks The Neptune India Fund may have a high volatility rating […]


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