Short Term Fixed Rate
The Alliance & Leicester is offering a fixed rate until the 31st May 2007 at 4.69% (APR 5.5%). There is a valuation fee of £280 and an arrangement fee of £395 that can be added to the loan.
Long Term Fixed Rate
The Alliance & Leicester is offering a fixed rate deal until the 31st May 2010 at 4.89% (APR 5.5%). There is a valuation fee of £280 and an arrangement fee of £395 that can be added to the loan.
Short Term Discount
The Norwich & Peterborough is offering a two year discounted scheme at an interest rate of 3.79% (APR 6.4%), with a valuation fee of £225 and no arrangement fee, subject to redemption penalties.
Long Term Discount
First Active is offering a discounted scheme until the 30th April 2010, without redemption penalties, at a current rate of 4.75% (APR 5.5%), with a valuation fee of £165 and an arrangement fee of £399 that can be added to the loan.
Cashback
The Scarborough Building Society is offering ten year fixed rate mortgage that gives an 11% cashback on the amount borrowed. The rate is 6.99% (APR 7.3%), with an arrangement fee of £595 and a £235 valuation fee. The loan is subject to redemption penalties.
Buy to Let *
The Clydesdale Bank is offering a fixed rate buy to let mortgage to the 30th April 2007 at 5.25% (APR 6.8%), with a valuation fee of £210, an arrangement fee of £449 and no penalties.
Remortgage**
For those looking to remortgage, The Halifax is offering a tracker scheme until the 31st May 2007, currently at 5.14% (APR 6.6%), with a free valuation, free legal work and no arrangement fees.
Tracker
The week's best tracker is from the Abbey, with a two year deal at base rate minus 0.11%. This equates to 4.64% (6.6% APR), with a valuation fee of £260. There is an arrangement fee of £499, which can be added to the mortgage.
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.
