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Yorkshire tracker guarantees 4.99% fixed option

Yorkshire Building Society is offering what it claims is the only tracker mortgage guaranteeing from the outset a future fixed-rate option set at 4.99 per cent.

The Your Choice three-year tracker has a rate of 0.25 above the Bank of England base rate until November 2005, giving a current rate of 4.25 per cent.

But Yorkshire says to give borrowers the security of controlling future payments, they can transfer into a fixed rate of 4.99 per cent at any time during the three-year period, regardless of what happens to the BoE base.

The loan has a maximum loan to value of 95 per cent and is flexible, offering daily interest calculations, overpayments, underpayments and payment holidays.

The average procuration fee available through Yorkshire&#39s partnerships with mortgage clubs and networks is 0.3 per cent of the loan.

General manager (marketing) Iain Cornish says: “Your Choice is a unique product. Borrowers benefit while interest rates are low but they have the added security of a very competitively priced fixedrate cushion.”

Wriglesworth Consultancy managing director John Wriglesworth says: “It is innovative and attractive and is probably unique as borrowers have the flexibility to choose between a tracker and a fixed rate.”


Zurich Bank to close

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Rothschild goes up for sale as the bear market bites

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Changes at Axa Rosenberg

Global equity manager Axa Rosenberg is splitting its top European job into two, with Simon Vanstone taking the newly created position of head of marketing for the UK and Europe, while Will Jump becomes the new chief executive for Europe.Vanstone joins from State Street Global Advisors, while Jump has been with Axa Rosenberg for 12 […]

Aegon to cut 600 staff

Aegon UK is looking to lose up to 600 jobs to balance out its purchase of IFAs in a bid to become a top 5 player. Most of the jobs are likely to go at its Edinburgh headquarters. It says investments in technology will lead to cost savings of £40m by next year.Aegon UK group […]


White paper — Dubai International Insights

Jelf Employee Benefits discusses the legislative changes in Dubai, available medical facilities and policy considerations for employers with expatriate workforces in the country. This edition will be of particular interest to global human resource directors, compensation and benefits specialists and mobility managers who have employee populations in Dubai, or are considering operating there in the near future.


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