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Verso/Mortgage Next BTL discount – 1.75%

Verso/Mortgage Next discount buy-to-let

Type: Buy to let discount

Rate: 1.75%

Discounted term: 1 March 2003

Underlying rate: Bank of England base rate plus 1.98%

Maximum loans: Up to 85 per cent of valuation subject to a maximum of £500,000

Commission: 1% minimum £500

Rental income: 125 per cent mortgage repayment at 6.5 per cent, interest only.

Features: Valuation and MIG fee paid

Procuration fee: 0.25% (min £200)

Redemption fee: 5 per cent of amount repaid on partial or full repayment before 1 March 2003

Telephone: 0845 1302223


MGM Assurance – Capital Investment Bond

Monday, February 11, 2002.Type: Unit-linked bond.Aim: Income and growth by investing in up to 12 funds.Minimum investment: Lump sum £7,500.Fund links: Bonus growth, deposit, European, fixed interest,international equity, Lazards managed, managed, North American,Pacific Basin, property, special situations, UK equity.Allocation rates: Clients up to age 75, £7,500-£14,999 – 101 per cent,£15,000-£29,999 – 103 per cent, £30,000-£39,999 […]

FSA tells firms to be more open on WP

The FSA has published the fourth issues paper in its review of the with-profits industry. It calls on life offices to be more explicit to consumers about the discretion they use in running with-profits funds. In the paper, Discretion and Fairness in With-Profits Policies, managing director John Tiner says consumers would be better served if […]

The choice facing the networks

Will depolarisation kill networks? This is going to be one murder investigation that is not going to be too hard to solve.The simple fact of the current market is that the network sector relies on commission override. There are some operations that are fixed-fee operations but still very few.The clear steer on which way networks […]

Surge in number of hits on Teps website

Endowment policy purchaser Surrenda-link says its website generated four times as many enquiries in the last six months of last year as in the same period of 2001.The firm puts the increase down to growing awareness of the sector, especially since the FSA started its review of endowments in 2000.Between July and December 2001, it […]


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