RBS IP enhances fixed rates

By David French

12 Mar 2007

The RBS two-year fixed rate mortgage will offer an initial rate of 5.19 per cent with an arrangement fee of £999. The maximum LTV is 75 per cent, with overpayments of up to 10 per cent of the outstanding balance per annum allowed during the initial deal period. Early repayment charge (ERC) of 3 per cent until 30 April 2009.

It will also be cutting the rates on the following three and five-year fixed rate RBS purchase and First Active remortgage products:

Remortgage

First Active three-year fixed rate (max LTV 95 per cent) will be 5.59 per cent with a £499 arrangement fee (previously 5.89 per cent) till 30 April 2010.
First Active five-year fixed rate (max LTV 95 per cent) will be 5.55 per cent with a £399 arrangement fee (previously 5.80 per cent) till 30 April 2012.

For all First Active residential remortgage products there are no basic legal or valuation fees. Overpayments of up to 10 per cent of the original balance per annum are allowed during the initial deal period. A higher lending charge may apply. Early repayment charges (ERCs) for the three-year product of 3 per cent for first 12 months, 2 per cent for 12-24 months and 1 per cent until 30 April 2010. Early repayment charges (ERCs) for the five-year product of 5 per cent for first 12 months, 4 per cent for 12-24 months, 3 per cent for 24-36 months, 2 per cent for 36-48 months and 1 per cent until 30 April 2012.

Purchase

RBS three-year fixed rate (max LTV 95 per cent) will be 5.75 per cent with a £499 arrangement fee (previously 5.99 per cent) till 30 April 2010.
RBS five-year fixed rate (max LTV 95 per cent) will be 5.69 per cent with a £399 arrangement fee (previously 5.90 per cent) till 30 April 2012.

Overpayments of up to 10 per cent of the outstanding balance per annum are allowed during the initial deal period. A higher lending charge may apply. Early repayment charges (ERCs) for the three-year product of 3 per cent until 30 April 2008, 2 per cent until 30 April 2009 and 1 per cent until 30 April 2010. Early repayment charges (ERCs) for the five-year product of 5 per cent until 30 April 2008, 4 per cent until 30 April 2009 and 3 per cent until 30 April 2010, 2 per cent until 30 April 2011 and 1 per cent until 30 April 2012.