Short Term Fixed Rate
The Northern Rock is offering a fixed rate until the 1st February 2006 at 4.99% (APR 6.6%). There is a valuation fee of £410 and an arrangement fee of £595.
Long Term Fixed Rate
The Derbyshire Building Society is offering a fixed rate deal to the 31st July 2009 at 5.59% (APR 6.3%). There is a valuation fee of £180 and an arrangement fee of £350.
Short Term Discount
The Norwich & Peterborough is offering a two year discounted scheme at an interest rate of 3.49% (APR 6.1%), with a valuation fee of £225 and no arrangement fee, subject to redemption penalties.
Long Term Discount
Accord Mortgages are offering a US dollar Libor linked discounted scheme up to the 31st October 2009, at a current rate of 3.29% (APR 5.3%), with a valuation fee of £225, plus an arrangement fee of £495.
Cashback
The Northern Rock is offering a variable rate mortgage that gives a 10% cashback on the amount borrowed. The current rate is 6.59% (APR 6.9%), with an arrangement fee of £595 and a valuation of £410. The loan is subject to redemption penalties.
Buy to Let *
The Nat West is offering a buy to let discount mortgage until the 30th September 2006, currently at 5.19% (APR 6.9%) with a valuation fee of £225, an arrangement fee of £395 and no penalties.
Remortgage**
For those looking to remortgage, the Halifax is offering a tracker mortgage up to the 31st October 2006, currently at 5.04% (APR 6.4%), with a free valuation, free legal work and no arrangement fees.
Tracker
This week’s best tracker comes from BM Solutions, with a two year deal at base rate minus 0.5%. This equates to 4.25% (5.9% APR), and has a valuation fee of £265 and an arrangement fee of £699.
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.
