Stroud & Swindon launches residential mortgage deals
The Society said the products will appeal to borrowers who feel that rates might still go higher and want to fix at a competitive rate now, or to those who think rates have now peaked and are likely to fall in the short to medium-term.
The range includes a two-year fix at 4.85 per cent fixed until 28 February 2007 and then followed by a variable rate set at
0.99 per cent above Bank of England base rate for the remainder of the term.
The remortgage product offers free valuation for properties valued up to £600,000 and free basic legal fees for those applying direct. Reservation fees of £99 and completion fees of £395 are payable.
Early repayment charges of 3 per cent until 28 February 2006 and 2 per cent until 28 February 2007 apply.
The 4.75 per cent Bank of England Base Rate tracker will track Base Rate until 28 February 2007, followed by variable rate set at 0.99 per cent above base rate for the remainder of the term.
The remortgage product offers free valuation for properties up to £600,000 and free basis legal fees for those applying direct.
A completion fee of £395 is payable.
An early repayment charge of 2 per cent until 28 February 2007 applies.
Both products give borrowers the option to repay up to 25 per cent of the original mortgage balance without incurring any early repayment charge.