UK: SCARBOROUGH LAUNCHES TRACKER MORTGAGE

Article Abstract:

Scarborough Building Society has introduced a base rate tracker mortgage, which tracks the base rate for six months, after which the borrower pays base rate plus 1%. The loan is available on maximum loan to value of 95%, and features no redemption penalties or fees. Other options from Scarborough include a loan offering a discount of 2.6% for the first year, and then reverting to standard variable rate; while a two year discount at 5.55% is also available. Both options feature redemption penalties.

Publisher: FT Business
Publication Name: Financial Adviser
Subject: Business, international
ISSN: 0953-5276
Year: 2001

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UK: LENDERS' DEAL TO LAUNCH NEW STEP DOWN MORTGAGE

Article Abstract:

Inter-Alliance and Preferred Mortgages have signed a deal to launch a step-down mortgage to corner the GBu 6bn adverse credit market. The new product, rewarding adverse borrowers every year, starts with a 9.2% interest rate which can reduce to as low as 7.2% if borrowers meet regular payment deadlines.

Publisher: FT Business
Publication Name: Financial Adviser
Subject: Business, international
ISSN: 0953-5276
Year: 2001

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Subjects list: United Kingdom, Retail banking, Mortgages
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