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RBS launches two year fix without arrangement fee

RBS Intermediary Partners is launching a new two year fixed rate deal to its First Active remortgage range.

The new product does not have an arrangement fee and offers an initial rate of 6.79 per cent (7.4% APR) till 30 September 2010. The maximum loan to value is 75 per cent.

Director of intermediary mortgages Chris Pearson says: “Advisers can now offer their clients a choice between paying an arrangement fee or not. This product has been launched to provide an even greater choice to advisers and could potentially attract clients with lower loan sizes in particular.”


FSCS hits £1bn in compensation

The Financial Services Compensation Scheme has passed the £1bn mark in compensation paid. The 2007/08 annual report shows it paid out over £82m last year bringing the total since 2001 to £1.04bn.

HBOS sees net mortgage lending drop to 7%

HBOS has seen its net mortgage lending drop to 7 per cent in the first half of 2008 as it also reveals its profit after tax plummeted 56 per cent to £950m from £2,139m last year.


MPAA consultation

By Fiona Tait, pensions specialist The chancellor’s announcement of proposed cuts to the Money Purchase Annual Allowance means it will be more important than ever to be able to tell your PCLS from your UFPLS What was in the statement? Not much. The chancellor spared three sentences to inform us that the Money Purchase Annual Allowance will be reduced […]


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