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Pink homes in on would-be landlords

Pink Home Loans has introduced the three-year fixed rate buy-to-let mortgage.

The mortgage has a fixed rate of 5.98 per cent for the first three years of the mortgage for loans of up to 85 per cent of valuation.

After the fixed rate period the mortgage will revert to 1.98 per cent above the Bank of England base rate for its remaining term. Any number of properties can be bought using the mortgage, with the maximum loan amount being £500,000. The mortgage also has a redemption penalty of 5 per cent of the advance during the fixed rate period.

An increasing number of companies are providing standard variable rates based on a set percentage above the Bank of England base rate. One reason for this has been increasing demand from consumers wishing to see their mortgages benefit at once from cuts in the Bank of England base rate.

According to Business Moneyfacts on June 7, 2001, this is the most competitive three-year fixed rate mortgage available. The next most competitive offering based on an initial fixed rate is from the Bristol & West. This has a fixed rate of 6.09 per cent until June 30, 2004, for loans up to 75 per cent of valuation. Under this scheme a maximum of five properties can be purchased, with the same maximum loan of £500,000. But the Bristol & West mortgage will revert to 1.75 per cent above the Bank of England base rate level, making it slightly more competitive after the fixed rate period.


Collins Stewart – Blue Chip Value And Income Fund

Friday, 8 June 2001.Type: Split-capital investment trust.Aim: Income and growth by investing in UK large-cap companies.Minimum investment: Subject to negotiation with stockbroker.Place of registration: Guernsey.Investment split: Blue chip UK equities 75 per cent, bonds and high yielding investment trusts 25 per cent.Yield: 8.75 per cent.Isa link: Yes.Charges: Annual 1 per cent.Commission: None.Tel: 01534 280068.

New IFA firm to focus on wealthy clients

Corporate Planning Group, an IFA targeting wealthy people and business owners, launches this week. Set up with £2.8m of private capital, the company intends to offer a complete financial planning service by combining 10 companies under the Corporate Planning Group brand. The 10 firms are an IFA, a venture capitalist, a business consultancy, a Guernsey-based […]

Firms link for 1% world

National IFA the Falcon Group is entering into a joint venture with rivalIFA Indepen-dent Financial Services in an effort to survive in the 1 percent world. The firms will maintain their independence and brands but will shareresources in areas such as marketing and technology. They will alsoco-operate and seek cost savings in back-office operations and […]

Marsden goes for the decade approach

Marsden Building Society is looking to the long term with the introduction of the 10-year fixed rate mortgage.The mortgage has a fixed rate of 5.69 per cent until June 30, 2011 for loans of up to 80 per cent of valuation, and is open to all borrowers. It joins a very small market, as only […]


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