Ian Giles, Marketing Director of Purely Mortgages, said:
"Swap rates are down very slightly this week, with 2 year swaps down 0.03% to 4.38%, 3 year swaps down 0.02% to 4.42% and 5 year swaps down 0.02% to 4.50%. Big news this week is the Alliance & Leicester once again dominating the fixed rate market with a 4.24% until 31/10/07 and a 4.28% Intermediary Exclusive with refund of valuation and free legal fees for remortgages. They have also reduced their 5 year offering to 4.49% until 31/10/10. In the Buy To Let market, National Counties have launched a stunning 5 year fixed rate product at 4.69% until 30/11/10 with a standard fee of £495."
Selection of Current ‘Best Buys’
Fixed/Capped
Lender Rate Term Initial Rate Reverts To APR Incentives Lender Arr. Fee
Alliance & Leicester 4.28% Fixed Until 31/10/07 4.28% 5.75% 5.7% Refund of valuation. Free legal fees for remortgages £495
Halifax 4.29% Fixed Until 30/9/07 4.29% 6.75% 6.6% Free valuation & free legal fees for remortgages £595
Alliance & Leicester 4.24% Fixed Until 31/10/07 4.24% 5.50% 5.5% £395
Alliance & Leicester 4.49% Fixed Until 31/10/10 4.49% 5.50% 5.3% £395
Tracker
Purely Mortgages Exclusive 0.13% under Bank Base Rate 2 Years 4.62% 5.75% 5.9% Refund of valuation and free legal fees for remortgages £549
Alliance & Leicester 0.16% under Bank Base Rate 2years 4.59% 5.50% 5.6% £395
Discount
Alliance & Leicester 2.95% discount from SVR for 2 years then 1.25% over base for 1 year 3 years 3.89% 6.84% 6.6% £395
Saffron Walden Building Society 1.96% discount from SVR 2 years 4.63% 6.59% 6.5% Refund of valuation and free legals for remortgages. £349
Buy to Let
The Mortgage Works 4.69% Fixed Until 31/08/08 4.69% 6.74% 6.6% 1.5% fee, min £495
National Counties 4.69% Fixed Until 30/11/10 4.69% 6.74% 6.2% £495
