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Lloyds TSB referral loan deal with Rock

Lloyds TSB has linked up with Northern Rock for a three-year deal for borrowers coming to the end of fixed-rate mortgages.

Rock will write to borrowers who meet certain credit criteria, inviting them to apply for a Lloyds TSB fixed-rate products.

Customers who meet Lloyds TSB’s criteria will be offered access to its full range of two, three and five-year fixed-rate mortgages. Rates on these are currently 5.99 per cent, 6.09 per cent and 6.14 per cent. All have an arrangement fee of £995.

Borrowers can seek to stay with Rock or look for an alternative in the market. Executive chairman Ron Sandler says: “We have already reported solid progress against our business plan, including meeting our planned target for mortgage redemptions, as we continue to repay the Bank of England facility.

“This new agreement with Lloyds TSB improves our ability to manage our mortgage redemptions. It gives some of our customers an additional option to consider when seeking to transfer to another lender and under this arrangement they will be able to do so in a smooth and simple manner.”

Syndaxi Chartered Financial Planners managing director Robert Reid says: “Anything that gives people options is positive but borrowers should always shop around for the best deal.”


Crude for thought

We have enjoyed a fantastically profitable run from our “energy” theme in recent months but we have called time on this bet and taken profits.

Relative values

There is no doubt that this has been a challenging period for UK equities, particularly those which invest in smaller companies. Over the year to April 30, the total return for the FTSE 100 was -2 per cent compared with -19.3 per cent for the smaller companies market as measured by the Hoare Govett Smaller Companies index excluding investment trusts.

Investment clock economic update

In the latest Investment Clock economic update, Ian Kernohan, Senior Economist at Royal London Asset Management, discusses the implications of the US Federal Reserve’s recent hike in interest rates and upcoming French presidential election. The value of investments and the income from them is not guaranteed and may go down as well as up and […]


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