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No lock-in on Abbey discounts

Abbey National is offering a new range of discounted and fixed mortgages with no extended tie-ins.

The mortgages include a 1.15 per cent two-year discount loan giving a rate of 3.85 per cent. The rate is available on loans up to 75 per cent loan to value, is open to first-time buyers, movers and remortgage customers and has no extended tie-ins.

Abbey is also offering a five-year 0.95 per cent discount giving a current rate of 4.05 per cent for loans up to a maximum of 95 per cent LTV, a two-year fixed rate at 4.49 per cent for loans up to 95 per cent LTV and a five-year fixed rate at 4.99 per cent for loans up to 95 per cent LTV.

Director of retail marketing Janet Connor says: “The rates offer an opportunity for customers looking for affordable peace of mind. Alternatively, our new deals offer outstanding value for customer who are looking for great value up-front discounts.”


Legislation fears after Revenue loses IHT trust case

Life offices are concerned that despite a legal victory against the Inland Revenue, new legislation could spell the end for products which take advantage of IHT loopholes. They warn that even if the Revenue is unsuccessful in overturning a ruling in the Eversden case, legislation is expected to be introduced by the next Budget to […]

Urgent action is needed on pension shortfall

I am very pleased to see some sane comment appearing in the pages of your publication concerning 1 per cent charged products. Judging by the fact that some perfectly reputable companies have already withdrawn from this market and others seem to be following weekly, I entirely agree with you that it is about time that […]

&#39Cut the gap with 2% cap&#39

The ABI is endorsing Sandler&#39s recommendation of “stakeholder”-style products by proposing two new safe-haven products although it wants the 1 per cent price cap raised. A report by Oliver Wyman & Company for the ABI says the savings gap could be closed by £5bn through its product models. The ABI says Sandler is right in […]

Marketing manager at Scottish Life

Scottish Life has announced the appointment of Peter Darvill as marketing support manager for the South Region which encompasses the life office&#39s branches in Romford, Reading, Redhill, Bristol and London branches.Darvill will become responsible for promoting Scottish Life products and support services to the IFAs. He will report to operations manager Andrew McGlone.

Great expectations for Japan

By James Dowey, Chief Economist and CIO Turnaround stories are an investor’s best friend. If successful, they prompt a widespread and possibly radical re-evaluation of the fair value of the associated assets. If one is brave enough to re-evaluate early on in the process then the returns can be very large. For over two decades […]


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