It used the lower of the two rates as the basis for all new variable- rate mortgages. Dual variable mortgage rate cases. Case- handling. However the definition only covers the arranging of new mortgage loans and excludes variations to an existing regulated mortgage contract. Previously, each of the five lenders had a single standard variable mortgage interest rate. Took part in a mortgage review after the date the new rate was first announced. It used the lower of the two rates as the basis for all new variable- rate mortgages. Cheltenham & gloucester dual variable mortgage rate lead cases. Uk mortgage market.

The cases we received related to borrowers who had taken out their mortgages before the change. A new loan to an existing mortgage customer, and which is arranged as a new mortgage contract. Mr and mrs n transferred their mortgage to a capped variable- rate deal. The borrowers had taken out their mortgages at a time when the lenders had only a single variable rate. The financial services authority today publishes its proposed approach to setting fees for regulating mortgage firms and general insurance intermediaries. Brokerage company. Dual variable mortgage rate cases. Case- handling. As the basis for all existing variable- rate mortgages apart from those still subject to discounts, caps or early repayment charges.

As the basis for all existing variable- rate mortgages, apart from those with discounts. On 28 may 2001, when her mortgage was at the 'standard variable mortgage rate', mrs x applied to transfer to the new c&g variable mortgage rate. As the basis for all existing variable- rate mortgages, apart from those with discounts. For existing mortgages that had come to the end of a fixed- rate, discounted- rate or capped- rate period once any early repayment charge expired.

Took part in a mortgage review after the date the new rate was first announced. For the measure of 'the number of contracts being administered', each first charge counts as one contract, irrespective of the number of loans involved. Recalculate mrs x's mortgage at the c&g variable mortgage rate on the annual interest basis from 28 may 2001, when she applied to transfer. In the light of their mortgage contract, we decided that they were entitled to have their discount calculated from the no- frills rate for existing borrowers. Advising on regulated mortgage contracts; or. We decided that the borrowers’ mortgage contract entitled them to have their discount calculated from the no- frills rate for existing borrowers.