Yorkshire Bank has drawn on its antipodean connection and is promoting a package of integrated wealt...
Yorkshire Bank has drawn on its antipodean connection and is promoting a package of integrated wealth management and banking benefits to busy professionals.
Designed for customers with a sole income of above £35,000 or a joint income of over £50,000, Premium Choice is a package that draws on the best practices of Yorkshire Bank's parent company, National Australia Group. It can be tailored to individuals' sophisticated financial needs for the cost of £10 a month.
Each Premium Choice customer is given a dedicated bank manager, according toYorkshire Bank.
Yorkshire Bank's personal financial services general managers Paul Fegan says the demand for a comprehensive service from busy professionals "who find themselves with significant income but no time in which to manage it to the greatest effect has increased greatly".
"Whether it's simply being able to pay no arrangement fee for a mortgage, getting savings type interest rates on their current account, or accessing a host of wealth management services, Premium choice will help lighten the burden of modern life."
Benefits include access to wealth management services, including taxation and offshore services, trust and estate planning, investment management and financial advice.
Preferential mortgage options are also available with tiered rates on a variable rate flexible mortgage and the waiving of arrangement fees. Solicitors' fees and basic valuation fees are also paid it Premium Choice customers switch their mortgage to Yorkshire Bank.
There are also preferential terms on the flexible repay line of credit facility. Customers can make the most of this facility as a tax-free haven for savings and as an instant-access "line of credit" with no approval needed.
The Premium Current Account incorporates interest rates of up to 4.25%, and an unsecured overdraft of up to £12,000 with an interest rate of 3.99% above the bank's base rate.
For fixed rate personal loans Premium Choice customers are offered a preferential rate of 1% below the fixed rate on loans over £3000. There are also preferential rates on term loans and individually negotiated rates on car purchase plans.
‘Important to have an anchor’
Report to be written by TPR
Lack of innovation for solutions
Some 2,000 consumers affected