The new portfolio includes a wide range of mortgage products with different features enabling customers to choose what term to fix over, whether to go for a no fee product, or a product that tracks the Bank of England base rate.
The new range includes:
Two Year Base Rate Tracker – 5.89%
- 5.89% (BBR +0.89%), then Base Rate +1.49%
- Customers can borrow up to 75% of the property value
- 2% product arrangement fee
- Maximum loan - £1 million
- No early repayment charge
- Full flexible features(1)
Two Year Fixed Rate – 6.14%
- 6.14% fixed until 31 August 2010, then Standard Variable Rate
- Customers can borrow up to 75% of the property value
- 2% product arrangement fee
- Maximum loan - £1 million
- 10% overpayment facility
Five Year Fixed Rate – 7.14%
- 7.14% fixed until 31 August 2013, then Standard Variable Rate
- Customers can borrow up to 90% of the property value
- £599 product arrangement fee
- Maximum loan - £1 million
- 10% overpayment facility
In addition to the new range, the bank’s Standard Variable Rate, which is currently 7.19%, will no longer be available as a standalone mortgage to new mortgage customers.
