From Sunday 17 July, the bank's fixed rate mortgage range starts from as low as 4.49 per cent for new customers.
Brian Ewing, head of intermediary sales at IF, said: "Largely there has been a steady fall in swap rates in recent months. This has delivered cost savings to us which are now being reflected in a repricing of our fixed-rate product range. This new pricing significantly improves our standing in the fixed-rate Best Buy Tables for both two and five year fixed-rate products."
IF has four fixed-rate mortgages, giving brokers the flexibility to choose from 2 or 5 year deals and preferred loan to value, as follows:
Product LTV Rate Fee APR
Fixed 80 (01.10.07) Up to 80% 4.49% £299 5.9%
Fixed 80 (01.10.10) Up to 80% 4.79% £299 5.7%
Fixed 95 (01.10.07) Up to 95%* 4.89% £499 6.0%
Fixed 95 (01.10.10) Up to 95%* 4.99% £499 5.8%
* Up to 90 per cent LTV for remortgages
The bank has also amended the special rate periods on all offset and tracker rate mortgages with the special rate period now extended, depending on the product type, to 1 October 2007, 1 October 2008 or 1 October 2010. Intelligent Finance's tracker rate mortgage range starts at 4.99 per cent and the offset range starts at 5.19 per cent. On the bank's offset and tracker rate mortgages, there are no early repayment charges during the special rate period (normal mortgage discharge fee applies).
