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Mercantile launches lifetime mortgage

Mercantile Building Society is launching a mortgage with a discount for the life of the mortgage of 1.1 per cent off its base mortgage rate, currently 6.64 per cent.

The Mercantile Lifetime mortgage also pays a contribution towards valuation costs up to £200, it has no early repayment penalties and free unemployment insurance for the first 12 months. First time buyers also receive £250 towards purchase expenses.

Mercantile chief executive Gordon Robinson says: “I believe we are offering our long term clients an extremely competitive product, which is backed up with benefits and a service level that ensures personal attention through the life of the mortgage.”


Standard will run NHS stakeholders

Standard Life has been appointed as the designated stakeholder and group AVC provider for the Civil Service and National Health Service. About 960,000 NHS staff will have access to Standard Life stakeholder or AVC products as well as 490,000 Civil Service employees. Standard says the NHS schemes will potentially be the biggest it will manage. […]

Old Mutual appoints new fund head

Old Mutual Asset Managers has appointed a new sales manager and made two promotions within its expanding national and regional sales teams.Sally Reeves has been appointed as the new national and networks sales manager. She joins from the Berkeley IFA Network where she has been in charge of corporate development for two years.Matthew Nagele has […]

LM Financial appoints Midlands and Northern sales director

Lamensdorf Group has appointed Steve Kitching as its Midlands & Northern regional sales director for LM Financial, its national IFA operation. Steve Kitching, formerly at NFU Mutual, has over ten years’ experience in financial services, including four years at Prudential. Mr Kitching&#39s appointment is the latest move by Lamensdorf to continue the strategic development of […]

Sun Bank leaps whilst rates are low

Specialist mortgage lender Sun Bank has taken advantage of the recent fall in interest rates to expand its range of fixed-rate mortgages.Its new mortgage has a three-year fixed rate of 5.74 per cent for loans of up to 75 per cent of the property value until November 1, 2004. It is available for both first-time […]


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