As money-market rates have fallen, new lower fixed rates have become a daily occurrence in the mortgage market, with plenty of lenders jockeying for best buy coverage. Meanwhile, the non-conforming market has seen increased competition and as a consequence the borrower has been benefiting from improving rates.With this as the backdrop, Amber has launched a new range and has chopped the rates on its fixed-rate products. The headline rate on its Feather adverse three-year fix is just 4.99 per cent, rising to 5.49 per cent for light adverse and 5.99 per cent for medium adverse. These rates apply for full-status applications and rates increase by 0.5 per cent for self-certification. All too often, particularly in this market, a headline rate catches the eye, only to disappoint having scratched beneath the surface. These products certainly pass the first test, with early repayment charges only during the fixed-rate period. The arrangement fee is a respectable 495 and, as a touch of icing, the products even offer 500 cashback. On the downside, a higher lending charge applies above 75 per cent. The product caters for the lighter end of the non-conforming market but there is no harm in that. This is where the more fierce competition seems to be taking place. Overall, I like the look of Amber’s new fixed rates. Anything below 5 per cent, no matter how light, has to be good for a competitive market.
Having a suitable spread of assets is a prerequisite to good portfolio construction.
Axa’s 178m purchase of Framlington from HSBC sees the fund firm’s star managers – Nigel Thomas, George Luckraft and Roger Whiteoak – tied in until 2010 as part of the deal. The firm will be rebranded as Axa Framlington and will operate as a stand-alone business from October. Axa marketing director Simon Ellis says Framlington […]
UK workers will miss out on 285m of tax breaks this year by failing to take advantage of employee share schemes, according to research by IFA Promotion.The organisation says the figure represents the amount of tax which could be saved if the estimated 865,000 staff currently in a savings related share option scheme invested half […]
UCB Home Loans
Self Cert Two Year Flexible Fixed Rate Remortgage
The world around us is changing at a faster pace than ever. Generations are changing and over the next five to 10 years the graduates who have grown up with Facebook and Twitter will start to lead corporate UK and expect modern technology as a matter of course.1
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Another investment manager offering enterprise investment schemes has alerted clients of a 10 per cent drop in value for one of its portfolios following new Mifid rules. Mifid II, which came into force on 3 January, requires firms to notify clients when the overall value of their portfolio, relative to its value at the beginning of each reporting […]
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Retirement interest-only mortgages are set to become more popular following the FCA removing hurdles to selling them. The regulator sees RIO mortgages as a possible aid to the waves of maturing interest-only loans with no repayment strategy. However, the FCA also wants RIO mortgages to be sold more widely, for example as an additional option […]