Summary
Some of the highest loan to value rates compiled by Tim Twiddy: A SHORT TERM TRACKER RATE: With the market the way it is at the moment, the absolute maximum you can borrow is 95 per cent of the value of the property and even then there are restrictions on who is eligible for the deal. Nationwide Building Society has a 95 per cent deal with a competitive tracker rate of 5.28 per cent initially. The rate is Bank of England base rate plus 4.78 per cent for three years and the minimum rate payable is 4.78 per cent. There is a booking fee of pounds 99 and an arrangement fee for the loan of pounds 896 but there is no higher loan charge. There are early redemption penalties of three per cent plus pounds 90 in the first three years. The main problem with this deal is that it is only available to existing Nationwide customers.
A LONG TERM TRACKER RATE If you are able to get together a 10 per cent deposit then your mortgage options increase significantly. HSBC has a lifetime tracker rate of 4.49 per cent for the full term of the mortgage, which is Bank of England base rate plus 3.99 per cent. Somewhat surprisingly there is no arrangement fee and no booking fee. Even more surprisingly there are no early redemption penalties. The product is portable and the maximum loan is pounds 400,000.See the full content of this document
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Mortgage Deals
ANOTHER SHORT TERM TRACKER RAT...
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