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Pink Home Loans ties it up

Pink Home Loans has introduced a two-year fixed rate mortgage that has an extended tie-in for three years.

The mortgage is open to all borrowers for loans of up to 95 per cent of valuation. It is fixed at 4.75 per cent for two years and borrowers who pay off the mortgage during the first three years must pay an early redemption penalty. This decreases from 5 per cent of the amount repaid in the first two years to 4 per cent in years three and four, then 3 per cent in year five.

Some borrowers may prefer to go for a deal with a higher rate and no extended redemption penalty, such as Britannia Building Society&#39s two-year fixed rate at 5.19 per cent. Borrowers pay a penalty of 180 days&#39 interest if they pay off the mortgage during the first two years.

For those who are more concerned about getting a low fixed rate, Shepshed Building Society has a similar mortgage to Pink Home Loans which is more competitive. According to Moneyfacts on August 15, 2001, the Shepshed Building Society&#39s deal is available to all borrowers for loans of up to 95 per cent of valuation and is fixed at 3.99 per cent for the first two years.

However, borrowers who pay the mortgage off during the first five years pay a flat penalty of 6 per cent of the original loan, which is higher than Pink Home Loans.


Teacher&#39s BS form master plan

Teacher&#39s Building Society has introduced the cashmaster mortgage plan, a five-year discounted rate mortgage with a cashback.This mortgage is available for loans of up to 95 per cent of valuation and has a 0.25 discount for the first five years. This gives a current payable rate of 6.49 per cent and borrowers who redeem during […]

Western Provident Association – Self-Pay Protect

Thursday, 16 August 2001.Type: Healthcare cash plan.Minimum premium: Annual £30.Minimum-maximum ages: 18-69.Maximum benefits: £50,000.Deferred period: 90 days.Commission: Initial 50 per cent, renewal 5 per cent until end of 2001thereafter initial 25 per cent, renewal 5 per cent.Tel: 0800 7830784.

Fund managers set to fight for &#39baby bond&#39 default fund

Fund managers could find themselves competing with each other to win the mandate to manage the default option for the Government&#39s child trust funds.The Treasury, which first mooted the idea of child funds in the recent Savings & Assets for All paper, is looking to create a default investment option for parents who do not […]

General practitioner vs specialist

For many years, there has been a debate about the relative merits of general practitioner v specialist. The GP will argue that he or she can provide a one-stop service offering holistic financial planning.The specialist will argue that it is necessary to specialise as it is becoming more difficult to keep up to date with […]


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