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C&G sets discount and tracker loans at 4.89%

Cheltenham & Gloucester is offering two new prem-ium tracker and premium discount mortgages.

The two-year premium tracker mortgage will track at 0.14 per cent over the Bank of England base rate until April 30, 2007. It is offering a current rate of 4.89 per cent.

The two-year premium discount mortgage offers a discount of 1.85 per cent off C&G’s standard variable rate, giving a current rate of 4.89 per cent.

Both loans are available on loans of over £100,000 for loan to value of up to 90 per cent. Neither loan has an early repayment charge.

C&G has also made imp-rovements to its premium stepped tracker and prem-ium fixed-rate loans, with both now available on loans of over £100,000 with an LTV of 90 per cent.

The premium stepped tracker’s early repayment charge period has been cut from June 30, 2010 to June 30, 2007.

Sales director Nick Hales says: “Increasing the loan to value on our premium mortgages to 90 per cent means that more custom-ers can benefit.”

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