Short Term Fixed Rate
GMAC is offering a fixed rate until the 1st July 2006 at 4.95% (APR 6.2%). There is a valuation fee of £245 and an arrangement fee of £495.
Long Term Fixed Rate
The Alliance & Leicester is offering a fixed rate deal to the 31st August 2009 at 5.29% (APR 6.2%). There is a valuation fee of £280, and an arrangement fee of £595.
Short Term Discount
The Norwich & Peterborough is offering a 2 year discounted scheme at an interest rate of 3.24% (APR 5.9%), with a valuation fee of £225, and no arrangement fee, subject to redemption penalties.
Long Term Discount
The Nottingham Building Society is offering a 5 year discounted scheme at a current rate of 4.43% (APR 5.7%), with a free valuation, plus an arrangement fee of £295.
Cashback
The Northern Rock is offering a variable rate mortgage that gives a 10% cashback on the amount borrowed. The current rate is 6.29% (APR 6.5%), with an arrangement fee of £595 and a valuation of £385. The loan is subject to redemption penalties.
Buy to Let *
The Nat West is offering a buy to let discount mortgage until the 31st August 2006, currently at 4.94% (APR 6.7%) with a valuation fee of £225, an arrangement fee of £200 and no penalties.
Remortgage**
For those looking to remortgage, the Halifax is offering a tracker up to the 31st October 2006, currently at 4.54% (APR 6.0%), with a free valuation, free legal work and no arrangement fees.
Tracker
This week's best tracker is a three year deal from the Abbey, at base rate minus 0.01%, equating to 4.24% (6.1% APR) with a valuation fee of £250 and an arrangement fee of £299.
All figures are subject to revision, but current at time of going to press.
Terms and conditions apply. Subject to status and availability. Your home is at risk if you do not keep up repayments on a mortgage or other loan secured on it.
* There is no guarantee that it will be possible to arrange continuous letting of the property nor that the rental income will be sufficient to meet the cost of the mortgage.
**Your existing lender may impose penalties if you switch your mortgage to a new lender.
For full details contact Mortgage Talk - the UK's leading independent mortgage broker - on 0800 996 1111 or e-mail [email protected]
