* For Purchasers - Bank Base Rate – 0.01% to 31/7/06
* For Remortgagers - Bank Base Rate + 0.09% to 31/7/06 with a free valuation and free legals
Purchasers can benefit from a rate of Bank Base Rate - 0.01% to 31/7/06, giving a current pay rate of 3.99% (5.6% APR). This deal has no redemption penalties and so borrowers can redeem or switch penalty-free at any time.
For remortgagers, the rate is Bank Base Rate + 0.09% to 31/7/06, giving a current pay rate of 4.09% (5.7% APR). This deal offers a free valuation and free legals but early redemption penalties apply throughout this period: 2% to 31/7/05 and 1% in the following year. However borrowers can repay up to 10% each year penalty-free.
Both deals are flexible and any overpayments can be used to take payment holidays or make underpayments. In fact a payment holiday can even be taken if required without making any overpayments. There is no minimum loan on the purchase product but for remortgages the minimum loan is £150,000.
Ray Boulger of Charcol said "These deals offer some of the most attractive tracker rates on the market, with the flexible features adding further value. Their flexibility gives borrowers leeway to overpay while rates are low with the comfort of knowing they can take a payment holiday or make underpayments later if the need arises.
"The arrangement fees are relatively high but this is a trade off for the very competitive tracker rates, no redemption penalties on the purchase product and freebies on the remortgage product. However, because of the above average arrangement fees we would not recommend these deals for small mortgages."
Borrowers should contact 0800 71 81 91 or visit www.charcolonline.co.uk
