The first is a two-year variable rate at 4.29 per cent with 2.30 per cent discount off SVR until 31 December 2007. Maximum LTV is 75 per cent with an arrangement fee of £399.
A second product has a rate of 4.49 per cent, with 2.10 per cent discount off SVR. Features include no legal fees for remortgagors only and ERCs are charged at 2 per cent until 31 December 2007.
The buy-to-let products include a three-year fixed rate at 4.99 per cent reverting to Bank Base Rate (BBR) plus 1.75 per cent after 31 December 2008. Maximum LTV is 85 per cent and there is an arrangement fee of 1 per cent of the loan.
A second product is 5.19 per cent until 31 December 2008. Maximum LTV is 75 per cent. Features include a £399 arrangement fee and no legal (for remortgage only) or valuation fees. ERCs are payable at 5 per cent until the deal ends.
Bob Stanworth, senior product manager at Bristol & West, said: “The 4.99 per cent buy-to-let allows the investor to borrow more from us than from almost any other lender assessing borrowing solely on rental income. Our discounted rate will allow customers who want to benefit from rate reductions when they happen and to do this while sitting competitively alongside some of the best fixed rates available at present.”
Ray Boulger, senior technical manager at John Charcol, said: “Overall the products are relatively competitive. The 4.29 per cent discount has a competitive pay rate and is among the best rates in that market.
“However, with a potential rate reduction in the coming months, that may not be fully actioned by lenders, I prefer mortgages linked to BBR rather than SVR.”
