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Pink offers discounts to adversecredit clients

Mortgage packager Pink Home Loans is discounting its range of adverse-credit tracker products funded by sub-prime lender Mortgages plc.

The loans start at 5.75 per cent – 2.75 per cent above the Bank of England&#39s base rate with a 1 per cent discount – for up to 50 per cent loan to value until June 2003.

For every step up in LTV, borrowers pay a higher amount over the base rate but get a bigger discount. For example, customers borrowing up to 75 per cent LTV pay 4.5 per cent over the base rate but benefit from a 2 per cent discount, giving a rate of 6.5 per cent.

After the discounted period, the interest rate tracks the base rate by the amount specified for the rest of the life of the loan.

Income multiples are 3.5 times single income plus second or three times joint. Maximum loan is £1m. Borrowers will be charged 6 per cent of the loan if they redeem in the first three years. There is a 1 per cent introducer fee.

Sales and marketing director David Copland says: “Working closely with Mortgages plc has meant we have improved the range for the benefit of borrowers and shows our commitment to providing competitive products in the sub-prime area.”


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Pinnacle fills dental and optical gap

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Is three a crowd?

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Guide: how to… communicate with your pension members

Effective communication of your pension scheme is a large part of getting auto-enrolment right. Delivering the same message to all employees is not necessarily the way to go. To assist you with the communication of your pension scheme, we have provided some key areas to think about, such as:

  • What to consider when segmenting your workforce
  • How to communicate to pension scheme members at the right time in their member lifecycle
  • What topics you should be discussing with your pension members
  • The new pension freedoms and the importance of communicating them


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