View more on these topics

Product Matters

Birmingham Midshires Solutions have provided a different angle on an age-old problem. How long should a client fix their mortgage for?

Its new fixed-rate range provides the choice to the applicant on fixing for between one and 10 years all at the same rate of 5.89 per cent. It even allows up to three terms to be applied to the mortgage balance so applicants who want to repay lump sums at specific dates can still benefit from fixing their rates on the remainder of the mortgage for a longer period at today&#39s rates.

Although this may be suitable for the applicant who knows how much he wants to repay at set times in the future, for example, with maturing endowment policies/sharesave schemes, the product will probably find its place among applic-ants n
earing retirement who need certainty as they see their income reducing.

Having said that, there are other lenders who allow more than one fixed rate on one mortgage account who maybe do not offer as much flexibility in the chosen terms but, however, provide a better rate for the term offered.

Birmingham Midshires also provides a buy-to-let fixed rate of 6.99 per cent over two, three and five years and a self-certification rate of 6.49 per cent which both appear competitive in the current market while also providing more choice to applicants.

All these products benefit further from daily interest calculation and the relatively positive view of applicants who are contracted in IT-related occupations.

Steve Smith is a mortgage consultant at Sedgwick Independent Financial Consultants

Recommended

Bank Of Scotland – Save + Invest

Friday, 9th February 2001.Type: Unit-linked offshore bond and fixed interest savings account.Aim: Growth and income by investing in Scottish Provident&#39s Capital Investment Portfolio.Minimum investment: Bond – £10,000 or US$15,000, account – £3,000 or US$5,000.Place of registration: Isle of Man.Investment split: Any proportion in life assurance policy and fixed interest account, as long as the investment […]

Britannic Asset Management – Global Technology

Tuesday, 6th February 2001.Type: Unit trust.Aim: Growth by investing in a global portfolio of companies involved in or benefitting from technology and related activities.Minimum investment: Lump sum £500 monthly £50, Isa lump sum £500 monthly £50.Investment split: Telecoms equipment 31 per cent, software 18 per cent, computer hardware 18 per cent, semiconductors 17 per cent, […]

Edinburgh UK Tracker Fund falls with FTSE in 2000

Share values in the Edinburgh UK Tracker Trust, which tracks the performance of the FTSE All-Share Index, fell over 2000. The net asset value per share fell by 7.5 per cent to 266.95p from 288.71p while the FTSE Al-Share Index fell by 8 per cent. The share price fell by 14.8 per cent to 259.5p […]

IFAs not in clover as ABI rolls over on polarisation

Equity income was back in favour last month. Bill Mott&#39s Credit Suisse monthly income and Neil Woodford&#39s Perpetual income funds are in the top 10 for the first time in over a year. Mott&#39s fund returned 26.23 per cent for the year to the end of January, while Woodford&#39s returned 25.84 per cent. The investment […]

US equities: opportunities for short sellers expand

Optimism is as American as baseball and apple pie. And since the financial crisis, being optimistic about US equities has paid off: they have outperformed every other major developed market by a comfortable margin. Yet while there remain plenty of good reasons to be optimistic about US equities, Stephen Moore, manager of the Artemis US […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm

    Email: customerservices@moneymarketing.com