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Nationwide – 2 Year Tracker

Tracker mortgage

Tracker term:
Two years

Tracker rate:
Up to 95% of valuation &#45 0.5% above Bank of England base rate,
up to 90% of valuation &#45 0.14% above Bank of England base rate

Minimum loan:

Maximum loan:
Up to 95% of valuation subject to a maximum of £200,000,
up to 90% of valuation subject to a maximum of £300,000,
up to 85% of valuation subject to a maximum of £400,000,
up to 80% of valuation subject to a maximum of £700,000,
up to 75% of valuation subject to a maximum of £1m

Income multiples:
Based on affordability calculation and credit score

12 months&#39 free mortgage payment protection insurance, free valuation and legal fees for remortgages

Flexible features:
Overpayments up to £500 a month, underpayments, lump sum withdrawals, interest calculated daily

Arrangement fee:

Redemption fee:
2% of mortgage balance in year one,
1% in year two

Introducer&#39s fee:
Subject to negotiation

Tel: 0800 302010


MLIM fund breaks £1bn barrier

The Merrill Lynch Investment Managers&#39 property fund topped the £1bn mark. The Jersey unclassified open-ended unit trust invests in a mix of UK commercial property. In the ast year, to 30 June 2004, it returned 16.9 per cent with key investments in Riverside Retail Park in Nottingham and Tower 42 in London. The fund focuses […]

Out of context

• “I&#39m not boring, am I? I&#39ve trained my parrot to tell me I&#39m not but even he doesn&#39t say it with conviction” – AMI&#39s Ben Stafford on his ability to reel off complex mortgage regulations. •”I remember you being told off by the chairman of the Treasury select committee for talking too much.” – […]

Old Mutual goes for all in one formula

OLD MUTUAL ASSET MANAGEMENT Old Mutual Dynamic Bond Fund Type: Unit trust Aim: Income and growth by investing in fixed-interest securities Minimum investment: Lump sum £1,000, monthly £250 Investment split: 100% in fixed-interest securities Isa link: Yes Pep transfers: YesCharges: Initial 3.5%, annual 1.25% Commission: Initial up to 3%, renewal up to 0.5% Tel: 0808 […]

ScotEq shelves plan to ditch price pledge

IFAs have won a battle with Scottish Equitable over protection product real-time pricing guarantees after ScotEq threatened to introduce immediate price changes. ScotEq told IFAs in September that it intended to impose real-time pricing on e-submissions for protection policies but without a guarantee that these prices would remain valid for a set period. The move […]

Simon Fletcher

Auto-enrolment: pay attention or pay the price

By Simon Fletcher

As a chief executive officer of a business in the financial services sector, I have been dealing with the introduction of auto-enrolment for our clients for some time, but I can also speak from an employer’s point of view, having to go through the process ourselves.


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