John Charcol's two-year fixed-rate loan launched

Tuesday 28 March 2006

Independent mortgage broker John Charcol has launched a two-year fixed-rate loan for large amounts.

For borrowers wishing to borrow 500,000 or over up to a loan-to-value (LTV) of 75 per cent John Charcol is offering an interest rate of 3.99 per cent which will be fixed until June 30th 2008, on payment of a 0.25 per cent arrangement fee.

Thereafter the deal will revert to the Bank of England's base rate plus an additional 1.99 per cent, which currently stands at 6.49 per cent.

Early Repayment Charges of five per cent are applicable for the fixed-rate period but John Charcol's two-year fixed-rate loan also allows for payment holidays.

Ray Boulger, senior technical manager at John Charcol described the product as "the market-leading two-year fixed-rate".

"This mortgage will, without question, save borrowersa serious amount compared to the next best deal and these savings only get better the greater value of the mortgage," he added.

track© Adfero Ltd


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John Charcol's two-year fixed-rate loan launched