Yorkshire Building Society is offering the latest tranche of its limited issue stepped-rate mortgage but availability is restric- ted to existing borrowers.It has been launched to coincide with the end date of the society’s low fixed-rate deals to help borrowers bridge the payment difference when moving from their fix. The mortgage will be charged at 3.99 per cent fixed for the first year and 4.69 fixed for the second year. The society says many borrowers have been paying 3.29 per cent for the last two years but will transfer to 6.6 per cent at the end of the month if they do not take action. Product manager Karen Miller says: “As we have more than 3,300 borrowers coming to the end of a special rate deal next month, it was important for us to provide a good value mortgage option that would help with the inevitable increase in mortgage payments. The new stepped-rate mortgage should be a great solution but funding for this product is limited so interested borrowers should contact us without delay.”
Jupiter is to open its staff investment funds to the public under the name Merlin Balanced, aligning it with its three other Merlin vehicles managed by John Chatfeild Roberts. The 41m Jupiter Neptune fund, as it has been historically known, houses money paid to Jupiter employees following the take-over of the group by Commerzbank.
A long-time client once had a great opportunity to get a new business off the ground through selling part of the firm to a venture capital outfit. Like most relationships, it started well but soon there were problems as he found himself with competition from within.
FundsNetwork has added seven funds to its platform and has set up a market chronicle allowing advisers to chart fund performance over 75 years. The new funds are some of the higher-profile launches of the last six months. They are the Artemis strategic bond, managed by James Foster and Alex Ralph, Britannic Argonaut European alpha, […]
Aegon’s life and pension sales bounced back strongly in the second quarter of 2005. Sales in Q1 took a hit as the impact of commission cuts on certain pension product lines took effect but Q2 sales were 22 per cent higher than in the same period of 2004. UK earnings rose by 40 per cent […]
Johnson Fleming has launched its new managed auto-enrolment service, designed to support SME businesses of up to 250 employees. The managed auto-enrolment service is not just about providing businesses with a software system for them to manage themselves, but more about outsourcing the administration of the project and scheme to Johnson Fleming’s auto-enrolment staff.
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Another investment manager offering enterprise investment schemes has alerted clients of a 10 per cent drop in value for one of its portfolios following new Mifid rules. Mifid II, which came into force on 3 January, requires firms to notify clients when the overall value of their portfolio, relative to its value at the beginning of each reporting […]
The recent enquiry by the work and pensions select committee has reignited the debate about the future of collective defined contribution schemes. Whether these sort of schemes can be incorporated into the current UK pensions landscape is a moot point. Let’s consider some of the arguments for and against CDC. First of all, it is […]
Retirement interest-only mortgages are set to become more popular following the FCA removing hurdles to selling them. The regulator sees RIO mortgages as a possible aid to the waves of maturing interest-only loans with no repayment strategy. However, the FCA also wants RIO mortgages to be sold more widely, for example as an additional option […]