View more on these topics

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.”

Recommended

IFAs handicapped in the selling race

Back in 1990, I was playing golf with an estate agent and we got into a deep conversation about the effectiveness of restrictive covenants. After all, that is what you talk about when the golf is of a low standard. Suddenly, he asked me for the use of my mobile phone and disappeared into a […]

Pinnacle fills dental and optical gap

Pinnacle Insurance has introduced optident, a corporate healthcare cash plan that only covers the cost of dental and optical treatment. There are five levels of cover available for single adults, couples and children. Monthly premiums for single adults range from £6.50 to £32.48, depending on the level of cover selected. The cost of cover for […]

Pension fee offer from Scottish Life

Scottish Life is waiving its fee for single premiums or transfers of £10,000 and on contributions of £100 or more a month into personal pension plans until April 5.Scottish Life product marketing manager for individual pensions John Joe McGinley says: “Considering our flexible commission options, our internal and external fund range and Royal London&#39s with […]

Is three a crowd?

The pension versus Isa debate has raged on and off for years. Les Cameron, head of technical at Prudential, asks if three’s a crowd.   I think the debate was arguably settled by pensions freedom when the biggest downside of pensions – limited access and poor death benefits – was fundamentally changed. Total access, albeit with […]

Guide cover

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

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment