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Private Label launches tracker mortgages

Private Label has launched a tracker mortgage offering borrowers £500 cashback.

For full status borrowers the rate on the Cashback Tracker mortgage is the equivalent of the Bank of England Base Rate plus 0.85 per cent up to 95 per cent loan to value.

Self certification borrowers will pay the base rate plus an additional 1.5 per cent up to 85 per cent LTV.

There are no penalties for overpayments or capital repayments, but if the loan is redeemed in the first five years the cashback is repayable.

The packager is also offering a tracker mortgage for loans up to 100 per cent LTV. The rate is calculated as the base rate plus 1.75 per cent. But this rate is discounted by 1.26 per cent during the first year.

Both rates offer an introducer&#39s fee of 0.25 per cent of the loan.


Scottish Life announces half yearly results

Scottish life has recorded a35 per cent jump in new premiums for the first six months of the year.This represents an increase in equivalent annual premiums of nearly £20m on the same period of last year. New EAPs for the half year now stand at £75m up from £55.5m in 1998.Total annual and single premiums […]

LIA issues warning on stakeholder

The Life Insurance Association has warned the Government of the need for advice if stakeholder is to become a success.In its response to the Department of Social Security Consultation Brief No.1 on pensions the LIA says: &#34Incentivisation of the public to save for retirement in the absence of compulsion on savers means that financial advice […]

Premier Fund Managers launches Euro Protector Fund

Premier Fund Managers is launching a Euro Protector Fund as a sub-fund of its Dublin based Oeic.The Euro Protector aims to achieve long term capital growth with the re-assurance of a protected downside.The fund like its Oeic sub-fund counterparts, the UK Equity and Global Equity Protector funds offers a quarterly minimum return of 97 per […]

Leeds & Holbeck Building Society fixes for three years

Leeds & Holbeck Building Society is launching a three year fixed rate loan on July 8.The rate is fixed at 5.75 per cent until September 1, 2002, up to 95 per cent loan to value.The rate has no extended tie ins after the fixed period. But if redeemed during the fixed term, a penalty of […]


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