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The Mortgage Works launches BTL two-year discounted mortgage

The Mortgage Works is launching a buy to let product exclusively available through Premier Mortgage Service.

With a pay rate of 5.39 per cent, this two-year discounted product is available with immediate effect.

Product details include a 1.31 per cent discount from Bank Base Rate plus 1.95 per cent until January 2007 giving a current pay rate of 5.39 per cent. Followed by Bank Base Rate plus 1.95 per cent for the remaining term of the mortgage. Maximum advance is 80 per cent.

Portman Group intermediary sales Paul Howard says: “The BTL market remained buoyant during 2004 and looks set to maintain its appeal through 2005 as interest rates appear to be easing. For prospective and current landlords, this exclusive deal will be extremely attractive. The competitive interest rate, coupled with our flexible lending criteria, make this an excellent package. “


Millfield agrees Intelliflo MBO

Millfield has agreed a management buy out of Intelliflow for 250,000.Millfield says the deal will achieve annualised savings of 375,000 for Millfield. Intelligent Office provides a full suite of functionality for financial advisers. The MBO was headed by Nick Eatock, Chief Executive Officer of Intelliflo. Under the terms of the MBO, Millfield Group retains the […]

Read IFA fined 150,000 for pension unlocking

The FSA has fined Read Independent Financial Advisers Limited 150,000 for advising consumers to unlock their pensions.The FSA says Read has been fined because of serious defects in its sales process, inadequate familiarity with regulatory requirements and failure to include adequate risk warnings in its financial promotions.These breaches potentially affected 1,100 consumers between September 2000 […]

Direct sales forces most likely to be hit for with-profits bond sales – Reid

Banks and building societies’ direct sales forces will be hardest hit by misselling of with-profits bonds says Syndaxi Financial Planning director Robert Reid.Responding to the 650,000 fine given to Bradford & Bingley by the FSA for misselling of with-profits bonds and precipice bonds, Reid said IFAs were less likely to be affected if they had […]


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