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Seven-year fix as C&G revises loan range

Cheltenham & Gloucester has introduced a new range of fixed-rate mortgages over terms of one, two, three, five and seven years.

The products replaces C&G&#39s previous range introduced in June. The rates start at 4.49 per cent for one year for loans up to 90 per cent loan to value or 4.79 per cent up to 95 per cent LTV, rising to 5.49 per cent up to 90 per cent LTV or 5.79 per cent up to 95 per cent LTV over seven years.

The fixed rates expire at the end of November of the relevant year and early repayment charges are restricted to the length of the fixed term.

C&G has reintroduced a four-year capped-rate mortgage. The rate is capped at 5.29 per cent for loans up to 90 per cent LTV or 5.59 per cent up to 95 per cent LTV until November 30, 2006.

There is an admin charge of £199 on all the loans.

Sales director Nick Hale says: “This year has seen the lowest mortgage rates for many decades and with this new even lower range of fixed-rate products we have on offer, there has never been a better time to secure a fixed rate with C&G. It is good news for all homeowners, especially those who are looking for the guarantee and security of knowing what their mortgage payments will be over a period of time.”

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