Personal Choice Term Tracker – 4.85%
This product tracks the Bank Base Rate at +0.35% and is available on up to 80% Loan To Value. There is a 5% additional drawdown option, accessed via a chequebook facility and the arrangement fee is £699. Available on mortgages of between £500,000 and £2 million, the product has no Higher Lending Charge. Along with the flexibility offered by the additional drawdown, customers also have the option to overpay, underpay or take payment holidays. The early repayment charges are 4% to 31st March 2007 and 3% to 31st March 2008.
Personal Choice Term Tracker – 4.95%
Tracking the Bank Base Rate at +0.45%, this product is available on mortgages up to 75% LTV. As with the 4.85% product, there is a 5% additional drawdown available on completion accessed via a unique chequebook facility. This product is exclusively for loans of over £2 million and again, there is no Higher Lending Charge. The same flexible options are featured, allowing customers to overpay, underpay or take payment holidays to enable them to manage their mortgage more easily and allow for fluctuations in income streams. The arrangement fee is £999 and ERCs of 4% to 31st March 2007 and 3% to 31st March 2008 apply.
These products are available to all intermediaries for a limited period.
