Bradford & Bingley two-year fixed-mortgage launched

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Bradford & Bingley two-year fixed-mortgage launched

Bradford & Bingley has announced a new mortgage with a competitive initial rate of 4.28 per cent fixed until October 31st 2007, when it reverts to an APR of base rate plus one per cent for the remaining term.

Key features of the mortgage plan include maximum LTV of 95 per cent, valuation fee refunded, free legals on remortgages, £250 cashback on purchases and early repayment charges only apply until October 31st 2007.

Duncan Pownall, mortgage development manager for Bradford & Bingley, commented: "This new fixed-rate deal is excellent for both remortgagers and purchasers preferring payment security.

"As well as a highly competitive initial rate of 4.28 per cent, it also benefits from having a refunded valuation fee and either free legals for remortgagers or £250 cashback for purchasers.

"Indeed taking into account not only the rate but also the arrangement fee, this is the best two-year fixed-rate remortgage product on the market."

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