The changes will see the withdrawal of the five year fixed rate product, repriced two year fixed rate products and the introduction of three year fixed rate products.
The new non-offset fixed rate range is as follows:
Name of Product Pricing
2 year Fixed 80 4.59% until 01.02.08 (reduced from 4.69%)
3 year Fixed 80 4.79% until 01.02.09 (new product)
Both products are available up to 80% LTV and will revert to the bank's standalone variable mortgage rate (currently 5.70%) at the end of the discount period.
2 year Fixed 95 4.99% until 01.02.08 (reduced from 5.09%)
3 year Fixed 95 5.09% until 01.02.09 (new product)
Both products are available up to 95% LTV and will revert to the bank's standalone variable mortgage rate (currently 5.70%) at the end of the discount period.
All products are available for both house purchase and remortgage. There is an arrangement fee of £499. For both two year discounted products, there will be an early repayment fee of 3% during the discount period only. For the three year fixed rate products, an early repayment fee of 3% will exist during years one and two of the discount period reducing to 2% during the final year of the discount period.
