The new deals are designed to offer a complete choice of mortgage options to
its customers.
The new residential products have a minimum loan size of £150,000 and will
have limited availability. Customers must be able to complete by 31st
December 2001, and the application fee is £295.
The fixed rate product pays interest at the rate of 4.69 per cent over two
years, on mortgages up to 95 per cent LTV or a rate of 4.79 per cent with
£500 cashback. A buy-to-let mortgage deal charges interest at the rate of 5.65 per cent over two-years, and is fixed until February 2004. The mortgage is available up to 75 per cent LTV. Over five years, the rate is 5.99 per cent until February 2007.
Both deals are available on mortgages up to 75 per cent LTV, and an application
fee of £350 applies.
Discounted rate mortgages start from 3.94 per cent, a discount of 2.36 per
cent off SVR for two-years or 4.14 per cent over the same period with £500
cashback. Both mortgages are available for up to 95 per cent of the property
value, and a fee of £295 is payable.
The final addition to the new range are two three-year stepped discounted
rate mortgages. The discount is 3.01 per cent off SVR in year one, paying
interest at an initial rate of 3.29 per cent. In year two the discount is
2.01 per cent and 1.01 per cent discount off SVR in year three.
If opting for cashback of £500, the discount in the first-year is 2.85 per
cent, paying interest at an initial rate of 3.45 per cent, 1.85 per cent off
SVR in year 2 and 0.85 per cent discount off SVR in the final year. The
mortgage is available for up to 95 per LTV with an application fee of £295.
