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Scarborough Building Society – Introducer Exclusive Credit Repair Two-Year Tracker

Scarborough Building Society

Introducer Exclusive Credit Repair Two-Year Tracker

Type: Adverse credit tracker mortgage

Tracker term: Two Years

Tracker rate: 0.94% above Bank of England base rate

Payable rate: 5.44%

Minimum loan: £25,001

Maximum loan: Up to 80% of valuation subject to no maximum

Income multiples: Up to 3.5 times principal income plus second or 2.85 times joint

Conditions: Capital repayments of up to 20% a year allowed without penalty, £500 cashback, up to £3,000 in CCJs acceptable but none in the last three months, up to two months’ arrears in the last 12 months but none in the last three months, IVAs satisfied for at least six months acceptable, bankruptcy discharged for at least 12 months acceptable

Flexible features: Overpayments, underpayments, payment holidays

Arrangement fee: None

Redemption fee: 3% of amount repaid in year one, 2% in year two

Introducer’s fee: Up to 0.75% of original loan, additional 0.2% if borrowers switch to prime option after two years

Tel: 0845 130 7383.


Rowanmoor completes MBO

Rowanmoor Pensions completed its management buyout of the SSAS business of James Hay Pension Trustees and the regulated business of James Hay Investment Services this week. The buyout was led by former James Hay Consultancy directors Ian Hammond and David Seaton.

Claim firms set to appeal on time bars

Three claim-handling companies are preparing to appeal on up to 5,000 endowment misselling cases on their books that have been turned down by the Financial Ombudsman Service because of time bars. CPH, Endowmentclaims. com and Whitehall Randell say if any appeal is rejected it will try to launch a judicial review on time bars.

It’s a living thing

The world of retirement income planning is changing fast. On the surface, these changes are happening because of factors, including the closure of final-salary schemes, an extended period of market volatility and changing legislation. But a more fundamental and deep-rooted cause of these changes is taking place.

Property plan aims to deliver 9-11%

Cordea Savills is offering a property development scheme aiming for returns of 9-11 per cent and acting to mitigate IHT by using business property relief rules.


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