View more on these topics

Rock increases mortgage multiples

Northern Rock has increased the income multiples on some of its mortgages.

The increases will apply to Rock&#39s five, seven, 10 and 15-year flexible fixed products and the together five and seven-year fixed products.

Rock is offering 4.3 times single income on its five-year and over fixed-rate together product, 3.25 times joint income or 4.3 times single plus one times the lower income. Its flexible fixed rates of five years and over are now available at four times income, three times joint or four times single plus one times the lower income.

Press officer Jaqualyn Purcell says: “With interest rates at historically low levels, the adjustment to income multiples for fixed-rate products with a five-year or more benefit period will allow those customers who need to borrow slightly more the opportunity to do so while also remaining within affordability levels.

“Longer-term fixed rates also provide them with the peace of mind that their mon-thly payments will be fixed over the longer term.”

Recommended

Fidelity call to scrap Sandler suite cap

Fidelity is urging the Government to scrap plans to impose a price cap on the stakeholder suite of savings products, arguing that it should abandon efforts to dictate to the market. Managing director Richard Wastcoat says investors&#39 needs are too complicated for Ron Sandler&#39s “simplistic solution”, which it warns could leave the Government facing ano-ther […]

Feeling the burn

Scottish Life International entertaining at a Burns night supper last week offered something not many others Burns nights can boast – potentially burning the guests. The Diary was alarmed to hear that guests tucking into a good solid feed of haggis, neeps and tatties had to suddenly flee their Scottish experience for the safety of […]

Mansfield Building Society – Buy-to-Let Mortgage

Type: Discounted-rate buy-to-let mortgage Discounted term: Two years Discount`:1% Payable rate 4.75% Minimum loan: £35,000 Maximum loan: Up to 75% of valuation subject to a maximum loan of £250,000 Income multiples: Rental income must be at least 130% of monthly mortgage repayments Arrangement fee: £250 Redemption fee: 3% of the original loan in years one […]

Room with a phew

Room for Improvement? The Diary hopes this is no longer the case for MM columnist Keith Popplewell who let builder Dave and designer Angus into his house last week to convert his utility area. Keith seems to have acquired the taste for fame – readers may remember him from such shows as The Big Breakfast […]

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