Stroud & Swindon Building Society has anticipated customer demand following the cut in base rates and launched two variations on its standard flexible mortgage.
The Fees Free Capped and Flexible Remortgage guarantees the interest rate payable will not exceed 7.7 per cent until January 1 2002. Cash bonuses are available, solicitors costs are paid by the Society and there are no valuation fees or indemnity guarantee premiums payable by the borrower.
The Capped and Flexible House Purchase is also capped at 7.7 per cent until January 1 2002 and has three 1 per cent cash bonuses.
Both products are available through IFAs with an introduction fee of £200.