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Staffordshire strikes cashback blow for mutuals

The Staffordshire Building Society is offering a new five per cent cashback mortgage this month which it says is blow for mutuals against plcs.

The cashback is available on advances of 90 per cent for both purchase and remortgage and has no application or arrangement fee.

Staffordshire&#39s standard variable rate is 8.5 per cent almost half a per cent below the current standard.

Staffordshire chief executive Keith Page says: &#34The five per cent cashback mortgage is an aggressively priced product and will once again step up the competition in the mutuality v plc price war. As a mutual society with no dividends to pay to external shareholders we are able to use our advantage to once again benefit our customers.&#34


Leeds United financial services company kicks off

Leeds United became the first UK club to offer a comprehensive range of financial products this week with the launch of a dedicated financial services company.The company, backed by Allied Dunbar and Skipton Building Society, will offer the club&#39s fan base a range of life, pension and mortgage products.To boost the launch, any supporter completing […]

Northern Rock caps for five

Northern RockCAPPED RATE MORTGAGESCapped term: Until January 1, 2003.Capped rates: Option one – 6.09 per cent, option two – 6.69 per cent.Minimum loan: Negotiable.Maximum loan: Up to 95 per cent of valuation subject to a maximum of £250,000.Income multiples: Loans up to 75 per cent of valuation – 3.25 times principal income plus second or […]


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