View more on these topics

Private Label offers discount mortgage with cashback for millennium celebrations


Private Label is launching a new cashback discount mortgage which will pay borrowers £1000 in December 1999 just in time for the millennium celebrations.


The discount rate is 6 per cent with 3 per cent cashback.


The packager says that the mortgage delivers a benefit of 9 per cent – 10 per cent if the MIG – on a £50,000 loan.


In order to avoid &#39payment shock&#39 the discount is spread at 2 per cent a year for the first three years at which point the variable rate mortgage is predicted to be much lower than today.


The cashback is also split paying out £520 on completion with a further £1000 in December 1999.


The discount and cashback options are available at 95 per cent LTV.

Recommended

Scot Prov new business hits 36.9 per cent in year to date

Scottish Provident&#39s new business for the first nine months of the year rose 36.9 per cent to £114.1m from £83.3m. New life annual premiums increased 36.1 per cent to £74.6m from £55.2m and single premiums rose more than 40 per cent to £385m from £269.3m. The life office has also appointed its UK chief executive […]

RIT Capital Partners announces 6.8 per cent fall in NAV

RIT Capital Partners has announced a 6.8 per cent drop in net asset value per share during the half year to September 30.Net asset value per share fell from 384.1p to 357.9p. The company says the fall was due to the global crisis in confidence.The net asset value has fallen by £54m from £726m to […]

Barclays issues two new healthcare products

Barclays is launching two healthcare products to help with the financial consequences of taking time off work due to an accident or sickness.The bank says that more than 3 million people attended hospital accident and emergency departments between April and June 1998 and it estimates that 95 per cent were not insured to cover the […]

Woolwich launches two five-year capped rate mortgages with no tie-ins

Woolwich is introducing two new five-year capped rate mortgages with no tie-ins.The bank is offering a cap at 6.89 per cent for up to 90 per cent LTV as part of its flagship Open Plan &#34total borrowing solution&#34. Open Plan customers can transfer existing debts to under one roof at 7.2 per cent APR with […]

Managing customers in drawdown

By Lorna Blyth, Investment Marketing Manager Delivering a decent drawdown review process takes time and resources. This article looks at how you can manage drawdown clients in a more cost-effective way. Most advisers are seeing an increase in drawdown clients following pension freedoms. Often these are clients with lower fund sizes, which means advisers are […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment