View more on these topics

TMO launches semi-commercial loan


The Mortgage Operation has launched a product which combines commercial and domestic loans.


The Semi-Commercial Fix is aimed at businesses where living accommodation is attached. It allows one mortgage to cover both the business and commercial loan.


The loan is fixed until August 1, 2000 at 7.5 per cent up to 75 per cent loan to value subject to a maximum of £150,000.


There is an early redemption penalty of 5 per cent in the first five years. But borrowers are able to repay up to 10 per cent a year without penalty.


There is a procuration fee of £250.

Recommended

Premier launches bespoke portfolio management service

Premier Fund Managers is launching a tailor-made portfolio management service for investors in zero-dividend preference shares of split capital investment trusts.Premier will individually build a portfolio to match their clients investment needs.The bespoke service has a minimum investment of £100,000, there are no initial charges but the annual management charge is 1.25 per cent a […]

Treasury to clamp down on lenders

The Treasury is set to clamp down on extended redemption penalties and lenders which do pass on the benefits of base rate cuts to their customers.The Government department has issued a strongly worded discussion document which lenders and IFAs believe to be a clear indication that the decision to bring mortgages under the remit of […]

Financial Services Ombudsman Scheme appoints chief operating officer

The Financial Services Ombudsman Scheme Board has appointed Ian Marshall as its chief operating officer.Marshall&#39s responsibilities will include the integration of the eight financial service ombudsman schemes.The integration is expected to be completed by the second quarter of year 2000.He will also be responsible for the FSOS&#39s information technology, human resources and finance and will […]

Pink Home Loans tops £60m mortgage applications in June

Pink Home Loans is celebrating the completion of more than £60m mortgage applications during June.The figure represents the packager&#39s best-ever month and marked a 30 per cent increase on its previous best month.Managing director Peter Presland says: &#34We use the latest technology to ensure mortgage applications are processed as efficiently as possible and to improve […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment