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Pink go for buy to let

Pink Home Loans has introduced a new mortgage for the buy to let market.

The 7.1 per cent fixed rate mortgage is aimed at investors who are looking to buy properties that can then be rented out. The rate is fixed at 7.1 per cent until January 1, 2006 for loans of up to 85 per cent of valuation.

The mortgage also has redemption penalties for the first five years of the loan, but these do not extend beyond the fixed rate period.

This mortgage joins the very small market for five-year fixed rate buy-to-let mortgages, as there are only six of these available at the moment.

According to Moneyfacts the cheapest five-year fixed rate mortgage on November 22, 2000 is the 6.64 per cent fixed rate mortgage from Leeds & Holbeck Building Society for loans up to 80 per cent of valuation and which has similar redemption penalties.


Operating profits up at Paragon

Specialist lender Paragon has announced a 13.4 per cent jump in operating profits to £35.5m from £31.3m for the year to September 30, 2000. New lending has risen by 22 per cent to £510m from £419.7m and the cost to income ratio down to 40 per cent from 45 per cent. It also announced operating […]

Bring order to sharing

We started to look at the imminent introduction of pension-sharing orders last week and next week we will look at how these orders will be treated by the courts and by solicitors in practice.Here, we look in more detail at the technical aspect of sharing orders.Funded money-purchase schemes are the easiest type of scheme to […]

Fidelity and CCS funds upgraded

Two Fid elity funds have been upgraded to AAA status following Standard & Poor&#39s review of the managed funds sector.Fidelity&#39s MoneyBuilder global and WealthBuilder funds were both upgraded from AA status.Capel Cure Sharp&#39s Hallmark growth portfolio fund was also upgraded to AAA status in the managed balanced sector.The upgrades follow a mixed year for managed […]

Zurich life offices restructure systems for stakeholder

Zurich Financial Services life businesses are linking up with IT consultancy Keane in a wholesale revamp of their computer systems.Keane will support Zurich in delivering workflow and imaging, customer relationship management and e-solutions services as a part of a newly integrated customer services capability.The move will provide a common platform for each of the Zurich […]

When is £1m not £1m?

Neil Jones is technical support manager with Canada Life’s ican Technical Services Team. Canada Life offers a range of wealth management solutions, including retirement income planning, estate planning and investment solutions from a choice of jurisdictions, including the UK, Isle of Man and Republic of Ireland. The residential nil-rate band (RNRB) was first announced in […]


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