P541 Teletext 541 May31 20:44:57 ————————————— NEWS UPDATE ————————————— MORTGAGE BEATERS John Charcol, the independent mortgage advisers say competition among mortgage lenders is becoming increasingly intense. Borrowers are demanding more competitive fixed rates and lenders are prepared to meet demand with products which are initially "loss leaders". In other words, offering them to the public costs the lenders money. ————————————————————————p—————————1/7—p Property Plus 544 Advice Clinic 543 FREE MINI COLOUR TV ON PERSONAL LOANS OVER £5,00O SEE P—GE 538 Your Money Mortgages Property JobsP541 Teletext 541 May31 20:47:14 ————————————— NEWS UPDATE ———————pppp—p MORTGAGE BEATERS John Charcol says lenders are prepared to offer cheap, initially loss-making mortgages by getting homeowners to agree to staying for a certain term. Redemption penalties are imposed to ensure that for example, borrowers taking a two year fixed rate will stay for a minimum of five years. The penalty for leaving before this time can mean paying 6 months interest. ——————————————————————————————————2/7—— Property Plus 544 Advice Clinic 543 Download and Analysj Share Prices on Your PC See Pages 532 & 533 Your Money Mortgages Property JobsP541 Teletext 541 May31 20:41:31 ————————————— NEWS UPDATE —————————p——— MORTGAGE BEATERS Mortgage advisers John Charcol sa= demand is increasing for products which allow borrowers to reduce debt and pay off some of the loan without charge However, at present the only way of doing this is to take a standard variable rate, thus missing out on many of the fixed/discount rate bargains. John Charcol approached lenders to see what they could do about this problem. ——————————————————————————————————3/7—— Get away by buying your own island 544 WORRY FREE LOANS FOR ANY PURPOSE See Page 538 Your Money Mortgages Property JobsP541 Teletext 541 May31 20:37:49 ————————————— NEWS UPDATE ————————————— MORTGAGE BEATERS Lenders are keen to get our business and will gamble a short-term, loss-making fixed rate with the fact that we will stay loyal long term. Now John Charcol has negotiated two mortgages which will allow borrowers to have flexibility of payment and pay off extra without being penalised. Ian Darby says the loans are suitable for those who get extra income. ——————————————————————————————————4/7—— Will a loan beat negative equity? 543 Looking for advice? Why not write to: Teletext Advice Clinic P543 Your Money Mortgages Property JobsP541 Teletext 541 May31 20:42:05 ————————————— NEWS UPDATE ————————pp——— MORTGAGE BEATERS Homeowners who get bonuses, profit- related pay, inheritance or simply have a maturing TESSA can use the extra cash to pay off some of their mortgage. However, Ian Darby advises people to ensure they keep some "emergency cash" back for a rainy day - and don't extend themselves by paying off too much. Darby adds that remortgaging inertia is a "very expensive option". —————————————————————————————pp———5/7—p Islands start from £18,000 544 Download and Analyse Share Prices on Your PC See Pages 532 & 533 Your Money Mortgages Property JobsP541 Teletext 541 May31 20:48:22 ————————————— NEWS UPDATE ————————pp——— MORTGAGE BEATERS John Charcol has two mortgages on offer both requiring 10% deposits: 5.95% fixed for two years from completion. Applicants can repay up to 50% of the loan without penalty 5.55% to 1.8.97 with a fixed rate option offered after the discount expires. Option to repay 20% in 2 yrs Fees are payable but there are no compulsory insurances. Call 0800 718191 ——————————————————————————————————6/7—— Leisure & Pleasure 480 Fifty Plus 670 Download and Analysj Share Prices on Your PC See Pages 532 & 533 Your Money Mortgages Property JobsP541 Teletext 541 May31 20:54:40 Advert YOUR MONEY 7/7 CASHING IN YOUR ENDOWMENT? It could bj worth A LOT more than you think. Surrendering to the life office is not your only option. If your policy is suitable for sale it could bj worth up to 35% more bz selling it to POLICY PLUS CALL US NOW ON 01225 466 466 if your policy is: £ A With-Profits Endowment £ Worth over £1,500 surrender value. £ At least 25% through its term (min 5 years) THIS IS A 24-HOUR SERVICE. POLICY PLUS INTERNATIONAL PLC is regulated bz the Personal Investment Authority Your Money Mortgages Property Jobs