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Royal Bank of Scotland launches 4 year fix

The Royal Bank of Scotland is launching a range of mortgages aimed at borrowers who want to remortgage without moving house.

The bank says that last year 25 per cent of borrowers taking secured loans switched to another lender without moving house.

It is predicting that with interest rates at their lowest levels for 30 years and likely to drop further that this figure is likely to increase.

The RBS Flexible mortgage is fixed at 4 years at 5.84 per cent. It offers 90 per cent loan to value, interest is calculated daily and the bank pays all valuation fees and legal costs.

The 3 per cent Cashback Mortgage offers a standard variable rate of 6.95 per cent on loans up to 90 per cent loan to value.

Both mortgages pay IFAs a procuration fee of £120 on completion.


Standard Life Investments sees retail business up 115 per cent

Standard Life Investment increased its new retail investment business by a record 115 per cent in 1998.It took more than £50m of new money in the first quarter after its launch in November 1998.Its lump sum contributions increased by 131 per cent to £49m.SLI chief executive Sandie Crombie says: &#34Based on these figures for the […]

Halifax launches advertising campaign for Isas

Halifax is spending £1.8m on a television advertising campaign to promote its range of tax free savings products.The main aim of the campaign is to increase the profile of its Individual Savings Account range which will be available from April 6.The bank says the campaign has been designed to raise awareness among its customers of […]

Skipton reduces variable rate for mortgages

Skipton Building Society is reducing its variable mortgage rate to 6.89 per cent.Its 3-Year discount mortgage offers a rate of 3.89 per cent in the first year for loans up to 75 per cent of value and 4.89 per cent for loans up to 95 per cent LTV.Sales and marketing director Alan Scotter says: &#34As […]

Tories attack stealth taxes against pensioners

The Tories have launched an attack on what it calls the Government&#39s stealth taxes on pensioners.Shadow Chancellor Francis Maude has hit at the changes to corporation tax credits and the ending of tax relief on private health insurance in a document entitled &#39Labour&#39s stealth tax on pensioners.&#34Maude says: &#34These mean spirited taxes on pensioners and […]


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