View more on these topics

Scarborough makes tracks

Scarborough Building Society has introduced the flexible base rate tracker plus moneyback mortgage, which gives borrowers a £275 cashback.

The interest rate is 1.10 per cent above the base rate and is guaranteed not to exceed this during the mortgage term. Following the Bank of England&#39s 0.25 per cent cut in the base rate to 5.75 per cent, the interest rate payable is currently 6.85 per cent.

It is available on loans up to 95 per cent of valuation and does not have an early redemption penalty but it does not have an extensive range of flexible features. Overpayments and underpayments are allowed, but payment holidays are not available and there is no lump sum withdrawal facility. Interest is calculated on a monthly basis, which does not benefit borrowers as much as the daily calculation of interest.

According to Moneyfacts on February 21, 2001, Barclays Bank is also offering a flexible mortgage at 1.10 per cent above the base rate for the mortgage term. Like the Scarborough mortgage it is available on loans up to 95 per cent of valuation but its flexibility is better since it allows payment holidays to be taken and interest is calculated daily. However, some borrowers may prefer the Scarborough Building Society&#39s offer of a cashback.

Recommended

10.25% income on NDF bond

NDF Administration is offering an income and growth stockmarket-linked investment bond. The extra income & growth plan 6 will provide a fixed income of 10.25 per cent net a year over three years or 31 per cent net capital growth over the term. Capital will be returned in full at the end of the three […]

Sofa so good for campaign

Sofa is promoting its Find an Adviser online search facility for consumers with its first national advertising campaign. It will be running ads in the national press over the next 12 months. The campaign also aims to explain to consumers how Find an Adviser differs from other search facilities for IFAs, such as those from […]

Artemis hunts for recovery stocks

Artemis has introduced the UK special situations fund.Aimed at investors who are looking for a medium to high risk investment, the fund is a unit trust that will seek long term growth.Special situations will invest in recovery stocks. These can include companies that have been liquidated and which are being refinanced, or companies that have […]

Nothing-Ventured.Com – Self Select Personal Pension

Friday, 23rd February 2001.Type: Personal pension.Minimum premium: Lump sum £10,000.Minimum-maximum ages: 18-75.Fund links: UK FTSE indices, Aim, investment trusts, gilts, corporate bonds, unit trusts.Charges: Annual 0.75 per cent, set up fee £150.Allocation rates: 100 per cent.Minimum term: No minimum.Commission: None.Tel: www.nothing-ventured.com/pensions. 

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