The mortgage has an initial rate of 4.9 per cent fixed until 31 March 2004, has no arrangement fees and is available up to 95 per cent loan to value.
Other CAT standard features include no compulsory insurance, daily interest charges, and portability.
Martin Clarke, general manager (Marketing) at CIS, said: "Customers can fall easily into the trap of considering just the headline interest rate at the expense of the entire mortgage terms and conditions. Only when their mortgage is up and running do they realise they are tied into their fixed rate mortgage, or have been paying far more for their household insurance than is necessary.
"CIS's new mortgage product offers all the benefits of a traditional fixed rate mortgage but with fewer pitfalls. More and more people are now wanting security in their financial planning, particularly in the present economic climate and this fixed rate mortgage helps customers to budget over a given period of time. The launch of this new mortgage confirms our commitment to offering a range of modern products to suit modern needs."
