GE Money hikes rates by up to 1.7%

Solent Mortgage Service, a packager, called in administrators yesterday with up to 40 jobs expected to be lost. Rates at First National were hiked by up to 1.6% for loans of more than 80% LTV, while fees remain unchanged at £1,695. Loans below 80% LTV will now feature a £2995 fee, with rates rising by up to 0.8%. Igroup rates have risen by as much as 1.7% for loans over 80% LTV, while smaller loan to value ratios will see rates rise by 1.1%. Any case that has not been offered will be subject to the new criteria, while any offered cases must be completed by 3 October. The collapse of Le...