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Marsden fixes new mortgage

Marsden Building Society has brought in the 6.15 per cent fixed rate mortgage.

Aimed at first time homebuyers and people who are looking to remortgage, the product is fixed for five years at a rate of 6.15 per cent for loans of up to 90 per cent of valuation.

Following the fixed rate period the mortgage will revert to the company’s standard variable rate, which is currently 7.5 per cent. There are no extended redemption penalties.

The mortgage offers few features that make it stand out from the rest of the market, although it does have a reasonably competitive rate when compared to the rest of the market.

According to Moneyfacts the cheapest fixed rate five year mortgage on the market on December 1, 2000 is the 5.85 per cent fixed rate mortgage from Bristol & West Building Society which has a fixed rate of 5.85 per cent and does not have any redemption penalties.


Kempster leaves DBS Network

DBS Network chief executive and managing Tony Kempster is leaving the network in a shock departure to be replaced by Assureweb boss David Stewart. The news of Kempster’s resignation has rocked the network with members showing their concern. DBS has offered no explanation for Kempster’s resignation and Kempster was unable to comment on his reasons […]

&#39IFAs will sort out the pension mishmash&#39

Scottish Life is predicting the emergence of a new pension product to mop up the “mishmash” of existing schemes after the introduction of stakeholder. Speaking at one of ScotLife&#39s roadshows, CP61 Rev isited, head of pension strategy Steve Bee said employers will want an overriding product to tidy up all their existing pension schemes. He […]

Pru plans to merge its broker and ScotAm sales teams

Prudential is understood to be seeking PIA app roval to merge its intermediary and Scottish Amicable&#39s sales teams. ScotAm operates as Prudential&#39s IFA division and has a salesforce of about 115. Pru&#39s intermediary salesforce has about 175 staff. ScotAm says the need to drive down distribution costs is responsible for the restructuring and it is […]

[Perspective] IFAs can tame paper tigers

Today&#39s financial marketplace offers more choice in terms of products and distribution channels than ever before. Increasingly, IFAs have to convince discerning con su mers to choose them rather than their competitors. At no point in their exist ence have IFAs faced so much competition from different oper ators. The list is ext ensive and […]

Who pays inheritance tax and how to declare it

By Kim Jarvis, Canada Life In this article we look at which forms personal representatives (PRs) need to complete and who actually pays inheritance tax (IHT).  To recap, under current rules, any part of the estate that falls within the available nil-rate band (NRB), currently £325,000, is taxed at zero. Anything in excess of the NRB […]


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