Cheltenham & Gloucester has launched a new range of fixed rate mortgages.
The range offers a two-year fix at 5.99 per cent up to 90 per cent loan to value. For loans up to 95 per cent LTV of 0.2 per cent is added to the rate.
The three, five and seven-year rates are fixed at 6.29 per cent for loans up to 90 per cent LTV. For loans of 95 per cent LTV, 0.2 per cent is added to the fixed-rate.
Redemption penalties vary depending upon the fixed term and the time remaining for the fixed period. For example a borrower with a three-year fixed-rate loan would pay 3 per cent in year one, 2 per cent in year two and 1 per cent in year three.
There is an administration charge of £199.