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TMO Long Term

The Mortgage Operation has introduced a long-term discount mortgage in Scotland with redemption fees that increase during the third year.

This goes against the grain of the Government’s CAT standard and the growing popularity of penalty-free mortgages.

The company has based this mortgage on their belief that borrowers are more likely to redeem in the third year. However, IFAs are unlikely to look past the bizarre penalties.

The mortgage could be of use to someone who wants to borrow the absolute minimum and who is in desperate need of a cashback. But there are better poducts on the market.

Derbyshire offers a fixed rate of 6 per cent with a five-year discount of 1.04 per cent and free valuation. Nationwide has a penalty-free mortgage with a five-year discount of 1.09 per cent and free valuation. And Mortgage Express offers similar deals with free MIG of up tp 95 per cent of valuation.


Action group set to dog Winterthur over Sipps

London-based consulting actuary Geoffrey Bernstein is calling on IFAs to back his recently launched Winterthur Action Group, which aims to clean up the life office&#39s admin record on Sipps.Bernstein has issued a rallying call to IFAs to join the group and put pressure on the life office, which has been accused of poor admin on […]

Northern Rock introduces one year fixed rate bond

Northern Rock has introduced a new one year fixed rate bond, the 33rd version of the product that the company has produced.The bond has a gross interest rate of 7.25 per cent a year and does not allow any withdrawals at all before the one-year maturity date. It is aimed at investors who are prepared […]

Opra causes confusion over stakeholder tax

For the first time, Bungle Busters turns the spotlight on the Government and regulators after a Money Marketing investigation into allegations that they were baffling the public.The DSS has issued an apology after it published jumbled information on Serps on its website.Opra corrected its website after MM alerted the regulator that it was giving conflicting […]

Guide to help firms on legal issues

Compliance advisory service Janada has published a guide to help smaller financial services companies ensure they are up to speed on regulatory and legal matters.The Regulatory Health Check is aimed at both traditional companies, ranging from IFAs to small life companies, and companies embracing e-commerce strategies.Janada says the guide provides an effective check for those […]

To be and not to be – Multi asset investing with conviction

At Pictet Asset Management we believe active management of asset allocation is the most important generator of returns. What is not to be in our portfolio is just as important as what is to be because good performance is determined as much by the assets you avoid as by those you hold. The FP Pictet Multi Asset Portfolio managers are not wedded to any particular […]


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