The Gateshead-based all-status lender has launched a two-year fixed deal that offers an interest rate of 4.49 per cent until 1 January 2004 on all mortgages of up to 75 per cent of Loan-to-Value (LTV). An early redemption charge of five per cent will apply within the fixed period, thereafter one month’s interest will be charged.
The lender is also offering a two-year fixed deal at 4.74 per cent on loan applications with an LTV of 75 per cent for borrowers who do not want redemption penalties. Borrowers seeking an LTV of up to 95 per cent will get a rate of 4.94 per cent. A procuration fee of 0.25 per cent will be paid to intermediaries on all cases.
A two-year fixed self-certification mortgage, has an interest rate of 5.75 per cent for deals with an LTV of up to 75 per cent. An interest rate of 6.15 per cent will also apply on applications seeking an LTV of up to 85 per cent. The interest rates will be fixed until 1 January 2004. An early redemption charge of five per cent will apply throughout the fixed period, thereafter, only one month’s interest will be charged.
Gary Forrest, sales and marketing director of High Street Home Loans, said: “I do not see why people who may have had some very minor problems with their finances years ago should not benefit from a good rate of interest today. That we are able to offer such good headline rates is a clear sign that this market has matured at a rapid rate of knots in recent years. All the signs are that this progress will ensure that better deals continue to be put on the table throughout the course of 2002.”