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Nationwide says buy fixed loans before rates rise

Nationwide Building Soc-iety is urging borrowers to snap up fixed-rate mortgages as it believes rising money markets could shorten the shelf life of the cheapest deals.

It says borrowers should look at locking themselves into a fixed-rate mortgage before the current upward trend in the long-term cost of money forces lenders to withdraw their best deals.

The recommendation comes as the society predicts that the popularity of remortgaging will rocket over the coming months.

It claims that remortgaging is likely to account for more than 40 per cent of the market – it currently accounts for 30 per cent – soon after the new year as borrowers look for ways to save money and the volume of housing transactions declines.

A Nationwide spokes-man says: “The long-term money markets are on the way up so it could well mean that these deals are well worth getting into now. And with people looking to save money, we believe that remortgaging will hit at least 40 per cent over the next few months.”

London & Country mortgage specialist David Hollingworth says: “Nationwide could be right. When you see remortgage deals that are the cheapest for 40 years and no strings attached it is going to generate a lot of interest.”


National Mutual votes for demutualisation

National Mutual members have voted in favour of demutualisation and the sale of the business to GE Pensions. Around 38 per cent of members voted, with around 98 per cent of those voting for the demutualisation proposals. Qualifying members will receive £500 compensation. Qualifying with-profits policyholders will receive enhanced bonuses over time from a pot […]

Assuresoft set to sign net deal with Cofunds

Assuresoft is close to signing a deal with Cofunds that will see its fund supermarket on the Assureweb portal. The deal will see Cofunds&#39 trading platform go head to head with Skandia&#39s My MultiFundshop, which is already available on the platform alth-ough Assuresoft says the move is designed to give IFAs more choice and wants […]

UCB Home Loans – FlexiPlus

Monday, November 19, 2001.Type: Discounted rate flexible mortgage.Discounted term: Two years.Discount: 1 per cent.Payable rate: 5.49 per cent.Minimum loan: £25,000.Maximum loan: Loans of up to 50 per cent of valuation subject to amaximum of £750,000, 51-70 per cent subject to a maximum of£500,000, 71-80 per cent subject to a maximum of £300,000, 81-85per cent subject […]

Will equities get the boot?

Should more pension funds switch out of equities as Boots has? Steve Folkard: Risk management is a fundamental issue for companies and pension fund trustees alike. The decision taken by Boots would be specific to the liabilities of the scheme and the attitude of its trustees and their professional advisers to the relationship between that […]

European Opportunities: 'It’s nice when stock selection results in a macro tailwind'

Amid significant macro headwinds in August, Mark Page explains why his fund’s focus on stock selection has helped it outperform a falling market in August. BESbswyBESbswyBESbswyBESbswyBESbswyBESbswyBESbswyBESbswyBESbswyBESbswyBESbswyBESbswy


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