View more on these topics

Savills Private Finance enters mortgage market

Savills Private Finance is set to go head to head with major lenders with the launch of a low fixed rate mortgage.

SPF, a subsidiary of Savills Property Consultants, is planning to take on the major lenders as part of its expansion plans.

The IFA arm, which was set up last year to sell financial services to customers of Savills existing high net worth client bank, aims to write over £100m in loans this year.

It is offering a loan fixed at 6.09 per cent until January 1 2004. The loan, which is available for mortgages or re-mortgages, has minimum of £100,000 and a maximum of £500,000.

It has a redemption fee of six months interest at the standard variable rate for the first five years. There is an arrangement fee of £299 which can be added to the loan.

Managing director Mark Chilton says: &#34In today&#39s market there is a decreasing interest rate outlook. It is our business to have products available that satisfy the consumer view.

&#34The average rate over the next five years will be not less than 7.3 per cent. For consumers to be able to lock into a rate which is 1 per cent below that for five years is a good deal.&#34

Savills plans to recruit over 150 IFAs.


Friends Provident launches ethical trust

Friends Provident is launching an Ethics Unit to encourage companies to protect the environment and be more socially responsible.The Ethics Unit will act on behalf of the Friends Provident Stewardship – their range of ethical unit trusts – and supplement its existing policy of investing in companies which make a positive contribution to society by […]

Scot Eq targets over 35s for new Edinburgh office

Scottish Equitable is to target people aged over 35 to fill 150 customer services positions at its Edinburgh headquarters.By specifically targeting this age group the company hopes to recruit experienced, mature and appropriately qualified people from Edinburgh&#39s sizeable, skilled work-force.Scottish Equitable public relations manager Scott White says: &#34People are deterred from applying for positions they […]

National Mortgage Network launches new fixed rate mortgage

The National Mortgage Network is launching a fixed rate mortgage offering borrowers re-mortgaging of their property in a fee-free package that includes £400 cashback.The Freedom Mortgage fixed at 6.75 per cent until November 1 2003 is funded by Bristol and West.The product is designed to allow borrowers to go ahead with re-mortgaging when they may […]

Norwich Union scraps initial commission on tracker funds

Norwich Union plans to cut the 5 per cent initial charge on its index tracker funds following their conversion from unit trusts to an Oeic in November.The life office is also set to pay 0.5 per cent renewal commission on Oeics bought outside a Pep wrapper with the exception of its index tracking funds.It will […]


DB transfer shouldn’t be all-or-nothing

By Steve Webb, director of policy In my recent discussions with advisers, a hot topic has been the growing number of people interested in transferring their defined benefit pension rights into a defined contribution pension scheme. With many pension schemes offering eye-watering transfer values, this is likely to be an area of increasing interest. Yet […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    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