Available from 5.94 per cent the range covers light to heavy adverse and is designed to get borrowers back to a prime rate The rate will reduce by 0.10 per cent every six months, subject to payments being made, until the lifetime tracker rate of Bank Base Rate (BBR) plus 0.84 per cent for full status or BBR plus 1.14 per cent self-cert is reached. An arrangement fee of £459 exists and the range is only available through packaged submissions.
Trustguard launches 1-4-1 promotion
Trustguard Credit Services has launched its 1-4-1 promotion with Trigold which allows brokers free access to Trigold on the basis they give Trustguard one packaged deal each month.
Sian Brown, national sales manager at Trustguard, said 1-4-1 had worked well previously. She commented: “Trigold displays all our exclusive products. Brokers can save money by not having to pay the monthly subscription fee.”
Cascade underwriting not always best option, insists Mortgages plc
Mortgages plc has warned brokers to treat cascade underwriting with caution before recommending an alternative product from the same lender to a client.
Peter Beaumont, sales and marketing director at Mortgages plc, said: “There is scope for brokers to fall foul of mortgage regulation by simply endorsing an alternative product put forward by a lender because it’s easy and convenient to do so. Brokers should undertake further product research and make a fresh recommendation supported by a revised KFI.”
Breakfast club with Buildstore
Buildstore has announced it is to hold a series of free breakfast seminars throughout the UK. The first seminar is to be held in Bathgate, Scotland on 28 November 2005 and will cover areas including how intermediaries can become active in the area of self-build as well as highlighting the cover and knowledge Buildstore’s broker arm can provide.
For further details or to register e-mail: [email protected]
Kensington launches self-employed mortgage proposition
Kensington Mortgages has unveiled its flexible mortgage for the self-employed including the option of subscribing to a tailored insurance product.
Available from a fixed rate of 4.5 per cent, borrowers can opt to make regular overpayments and can take payment holidays. The insurance option provides the borrower with accident, sickness and unemployment insurance cover for pre-existing conditions, a 12-month interest-free direct debit payment facility on home insurance and a combined buildings and contents discount option.
HIPs ‘go-live’ date announced
The Office of the Deputy Prime Minister has announced that Home Information Packs (HIPs), which are being introduced by the government to reform the homebuying and selling process, will become mandatory from 1 July 2007.
