Ray Boulger of Charcol comments: "This deal is perfect for those wanting a competitive rate but who may be nervous about future rate increases. At 4.49 per cent the cap is only 0.24 per cent higher than the cheapest 2 year fix but its current discounted pay rate is only 3.99 per cent. Thus this mortgage combines protection from any rate increases of more than 0.5 per cent whilst still leaving borrowers free to benefit from a competitive discount."
The deal offers borrowers the opportunity to pay off up to 10 per cent of the mortgage penalty free each year. Penalties apply during the discounted period only, and after this borrowers should review their options.
Borrowers should contact 0800 71 81 91 or visit www.charcolonline.co.uk
