The new deal is fixed at a very competitive 4.34%, until 31st October 2007 and is available immediately for both existing and new borrowers, whether they are moving home or just moving their mortgage.
The main product features are :
- Free accident, sickness and unemployment cover for the first six monts
- overpayments of up to 10% of the capital each year permitted without charge
- interest charged daily, giving immediate benefit for all repayments
- early repayment charges only applicable during the fixed rate period (3% to 31/10/07)
- full portability should the borrower wish to move home during the fixed rate period
- no compulsory insurances
- booking fee £195, completion fee £300
