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Fixed loan aims to beat inflation fears

Mortgage 2000 is offering a two-year fixed-rate loan aimed at protecting borrowers from interest-rate fluctuations in the run-up to the general election.

The rate is fixed at 6.49 per cent until August 1, 2002 for loans up to 95 per cent loan to value. There are no overhanging redemption penalties.

This deal is being offered in conjunction with Bristol & West. Minimum loan is £15,001 and there is 1 per cent cashback.

IFAs receive a procuration fee of 0.35 per cent of the loan.

Chief executive Simon Nixon predicts fixed-rate mortgages will be popular with a general election on the way. He says: “If, as some City pundits believe, the Chancellor&#39s spending plans are inflationary, this will lead to nervousness in the mortgage market. This is the first in a series of special deals that will be announced over the next few months.”

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