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Mortgage Express takes it to the Max with homeloan up to 130%

Mortgage Express is offering Max 130, a product which enables homebuyers to borrow up to 130 per cent of their property value with no higher lending charge.

Max 130 is designed to meet the needs of first-time buyers, people without a deposit and those who require cash and debt consolidation.

There are two rates available – a three-year fixed rate at 6.49 per cent and a two-year discount of 0.31 per cent, making a current pay rate of 6.24 per cent. The income multiples are 3.75 for single applications and 2.75 for joint applications.

The product has been tested in Northern Ireland for around two years and is now being made available across the rest of the UK.

Product development manager Roger Hillier says: “We are confident about the need for a product such as this which is designed specifically for first-time buyers struggling to get on to the housing ladder, in addition to those looking to consolidate credit cards, personal loans and second charges into one competitive loan. This will make repayments more manageable and could be a much better alternative for those customers in the long term.”


Independent view – Peter Hargreaves

I am sure that other brokers, product providers and IFAs will be in the same boat as Hargreaves Lansdown. The amount of time, effort and cost involved in verifying a client’s identity is nothing less than seriously onerous. Let me state here that we take money laundering seriously and adhere strictly to the rules.

Ethical Financial advisers quizzed over commission

Creditors of Ethical Financial – the socially responsible inv-estment vehicle which closed its doors with potential investor losses of 1m – are quizzing advisers of the firm over commission payments.

Richard Verdin on protection

When Scottish Provident created Self Assurance,it set the benchmark for all protection providers to aspire to. Its efforts culminated for all to see when, in the Swiss Re 1998 annual report, it was shown to have become the biggest term provider in the UK. This was no mean feat when you consider it had written annual premium business during the year of slightly more than 37.5 m, some 20 per cent higher than HSBC, which came second.

ABI move to set up loan scheme to pay FSCS levy

The ABI is believed to be in talks with the FSA over a loan sch-eme to enable IFAs to pay Fin-ancial Services Compensation Scheme fees in instalments.

The ABI is negotiating with the FSA over establishing a loan service that intermediaries can dip into to pay the FSCS levy.

The Investment Clock: Keep calm and Macron!

Trevor Greetham, Head of Multi Asset In a marked contrast to the surge in risk sentiment that followed President Trump’s election in November, markets greeted Emmanuel Macron’s victory in the French presidential election with satisfaction and relief, rather than euphoria. After rallying strongly on opinion polls that accurately predicted the outcome, the euro held onto […]


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