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Mercantile Building Society – 121 Mortgage

Type: Discount mortgage.

Discounted term: Until January 1, 2003.

Discount: 2.05 per cent.

Payable rate: 5.59 per cent.

Minimum loan: £25,000.

Maximum loan: Up to 75 per cent of valuation subject to a maximum of £150,000.

Income multiples: 3.5 times principal income plus second or 2.75 times joint.

Redemption fee: None.

Arrangement fee: None.

Conditions:12 months&#39 Available in North of England only, 12 months&#39 free unemployment cover.

Introducer&#39s fee: Subject to negotiation.

Tel: 0500 295 500.


Ombudsman clarifying approach on endowment complaints

The Financial Ombudsman Service is aiming to streamline the way mortgage endowment disputes are resolved.It is publishing a briefing note for IFAs and product providers clarifying the approach it will take in dealing with endowment-related complaints.Circumstances where the ombudsman will consider a complaint will be explained. It is hoped the move will allow many claims […]

Woolwich – Guaranteed Equity Bond

Monday, 16th October 2000.Type: Guaranteed equity bond.Aim: Growth by investing in the FTSE 100 index.Minimum-maximum investment: £6,000-£500,000.Term: Until October 27, 2005.Guarantee: Original investment returned after five years even if the FTSE 100 index falls. Bonus of up to 0.75 per cent of original investment added on maturity.Return: Up to 40 per cent of the original […]

Merrill stays on offshore track

Merrill Lynch Investment Managers is offering a UK fund which will mirror its Standard & Poor&#39s AA-rated offshore Mercury offshore sterling trust.MLIM compares the new UK Dynamic fund to a decathlete or heptathlete, claiming its ability to outperform the market in all investment conditions shows it is multi-talented.At least 60 per cent of the new […]

Industry clashes with policyholders over the scale of misselling

IFAs are backing the FSA&#39s decision not to conduct a full-scale review into mortgage endowments.They believe the FSA is finally beginning to accept the poor performance of products can be the result of changing financial conditions and is not in itself evidence of misselling. Yet pressure is mounting from consumer groups for the FSA to […]

Tax allowances and exemptions

Helen O’Hagan, Technical Manager at Prudential, looks into the planning strategies that can deliver considerable tax savings for your clients. Inheritance tax (IHT) Consider Margaret, featured on our Planning Matters family hub, who is a sprightly eighty year old with four children and several grandchildren. She’s recently been widowed and IHT planning is high on […]


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