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Skipton launches rate rise protection with 7-year fix

Skipton Building Society has launched a 7-year fixed rate mortgage.

The news comes amid expectations of an imminent base rate rise to 5 per cent, which many commentators say is leading borrowers to protect themselves against such rises with longer term fixes.

Thee two options for the mortgage are a rate of 4.99 per cent with a completion fee of £799 and a rate of 5.14% with a completion fee of £499. Both options have no application fee and are available for loans up to 75 per cent loan-to-value.

Skipton chief executive John Goodfellow says: “The industry has seen a huge surge in demand for longer term fixed rate loans. The cracking rate on our 7-year fix means it is ideal for customers looking for not only an extremely competitive product, but also the security of knowing that their rate is fixed for the next seven years.”


Webb returning as head of distribution at Hermes

Former Invesco Perpetual chief executive Mike Webb is making a comeback after a two-year break from the industry to join Hermes Pension Management. Webb, who headed distribution at Invesco after stints with GT and Prolific, returns in a similar role at Hermes. Hargreaves Lansdown head of research Mark Dampier says: “Mike Webb knows the retail […]

HomeBuy truths

Last week saw the launch of the Government’s new open market HomeBuy scheme. The fact that little in-depth press comment was seen in the nationals is possibly a reflection of scepticism in the market about the scheme.

‘IFAs risk misselling claims if they fail to recommend PTA’

Advisers who do not recommend pension term assurance to their clients could risk misselling claims because life policies are liable to inheritance tax, warns Standard Life. Product marketing manager Mick James says advisers must have a good reason why they do not sell PTA because premiums are cheaper and the sum assured is not subject […]

Average house prices up 3,000

Average house prices rose by over 3,000 in August, according to Government figures. The average house price in the UK in August stood at 197,631 compared with 194,454 in July.

Tax year-end planning with the family

From the Technical team at Prudential Let’s face it, many aspects of financial planning involve a lot of technical detail. At our face-to-face events, we’ve had great success bringing these technical topics to life through the use of practical case studies. Meet the family Prudential’s Planning Matters hub brings together a fictional family and explores […]


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