Purchasers and remortgagers can borrow up to 85% of their property’s value MIG-free and overpay up to 10% per year penalty free. Interest is calculated daily and naturally for a Charcol exclusive there are no extended redemption penalties.
Ray Boulger of Charcol comments, “This discount mortgage really does put fixed rates in the shade, as well as offering a penalty free overpayment facility to encourage borrowers to get ahead of the game whilst rates are low. Bank Base Rate would have to rise above 5% over the next two years, well above what most experts predict, for this deal to become uncompetitive.”
