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Woolwich goes for new homebuyers

The Woolwich has introduced the open plan three-year capped rate mortgage.

The mortgage has been targeted at first time buyers and not at anyone who is looking to remortgage. The interest rate is capped at a ceiling of 5.99 per cent for loans of up to 95 per cent of valuation until April 1, 2004.

After the capped rate period the mortgage will revert to the companies standard variable rate of 7.75 per cent. The mortgage comes with redemption penalties during the capped rate period of six month&#39s interest at the capped rate or the standard variable rate, whichever is the higher. These penalties do not extend beyond the capped rate period.

Looking at how competitive the mortgage is, according to Moneyfacts it is the fifth most competitive available on January 8, 2001. The cheapest capped rate three year mortgage is the 5.74 per cent cap from Bradford and Bingley, which has a capped rate of 5.74 per cent for loans of up to 85 per cent of valuation. It too has no extended redemption penalties.


Dual track solution for Royal Skandia

Looking at the product literature, the panel are again complementary. Jackson feels that it is clear and concise but that details of the charges are not well laid out, while Cuthbert says: “The literature is attractive, well set out and provides all the required information about the product.”Flowers adds: “The literature is good. It provides […]

CBI warning over data protection code

The Confederation of British Industry has today renewed its plea for changes to a draft code of practice on company use of employees&#39 personal data which it sees as confusing and potentially damaging. The CBI is concerned that with over 200 standards in 62 pages the code is too complicated and long. CBI head of […]

Chase Fleming Isa is linked to Euro Sicav

Chase Fleming Asset Management is launching its Fleming Funds Isa on January 15. The wrapper provides inv estors with the opportunity to build a portfolio from any of the 17 funds in the FF European-based Sicav. Alternatively, investors can choose one of two special portfolios, created by CFAM. These focus on technology and Europe and […]

Fiduciary Trust International – Swiss Equity Fund

Thursday, 11th January 2001.Type: Ucits.Aim: Growth by investing in small and medium cap Swiss companies in the industrial and service sectors.Minimum investment: A shares – SFr 10m, B shares – SFr 2,000.Place of registration: Dublin.Investment split: Machinery 16.8 per cent, pharmaceuticals 12.9 per cent, food 11.4 per cent, engineering and electronics 22.1 per cent, other […]


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