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Network fixes self-cert

Mortgage packaging network Exclusive Connections has set up a

self-certification fixed-rate loan funded by Bristol & West.

The mortgage is fixed at 5.89 per cent until August 2004, then stays at

1.75 per cent above the Bank of England base rate for the life of the loan.

Minimum loan is £25,001 and maximum is £500,000 although higher

amounts will be considered.

Loans are available up to 75 per cent loan to value on purchase and

remortgage, with no mortgage indemnity guarantee charge.

There is a redemption penalty of 5 per cent of sum repaid until 2003,

which lowers to 4 per cent until the fixed period expires in 2004. The

arrangement fee is £299.


Pru director takes role on Inter-Alliance board

National IFA Inter-Alliance has appointed Prudential sales director JohnProut to its board as an executive director with a business developmentrole. The move follows Inter-Alliance&#39s recent acquisition of Pru&#39s salesforce. Prout, 49, will take up his position on the board towards the end of thesummer. He has been with the Pru for 14 years in sales […]

Principality switches on to remortgages

Principality has revamped its switch and save remortgage, which has a stepped discount over the first five yearsA 1.66 per cent discount is offered until February 28, 2003, giving a payable rate of 4.79 per cent. A 0.66 per cent discount is then offered until August 31, 2006, giving a payable rate of 5.79 per […]

Prudential&#39s flexible annuity

Quinton adds: “The complexity of the product can be expected with the added flexibility and transparency the product brings. Ultimately, this makes the cost of sales for the IFA higher, while at the same time making it more imperative for retirees to get good independent financial advice.”Finally Harford says: “My initial reaction to the marketing […]

L&G waives fee on flexi self-cert mortgage

Legal & General&#39s mortgage club is offering a flexible self-certification tracker mortgage which waives the usual £325 application fee until June 30.The interest rate tracks bank base rate plus 0.98 per cent for the life of the mortgage. The current rate is 6.23 per cent, and loans are available up to 85 per cent loan […]


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