smile launches new mortgage products
www.moneynews.co.uk > Mortgages > smile launches new mortgage products
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Money News |
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smile launches new mortgage products
Tue 17th Oct 2006
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The smile two-year fixed-rate mortgage offers customers an interest rate of 5.34 per cent while the two-year tracker mortgage is available with an interest rate of 4.79 per cent.
Borrowers are urged to take advantage of the offers quickly as the closing date for purchases is November 13th 2006. Both mortgages provide a flexible repayment system so customers are able to underpay or overpay within the bank's stipulations.
Head of mortgages at smile John Barker remarked: "Both new products offer customers competitive rates and peace of mind that their rate will remain either fixed, or close to the base rate for the initial period of the loan.
"With predictions of another [Bank of England] base rate rise expected before the end of the year, we appreciate that there is likely to be an increase in demand for good value fixed rates and closely linked tracker products."
The smile two-year tracker mortgage is guaranteed to match the Bank of England base rate, which currently stands at 4.75 per cent, with an added 0.04 per cent for the life span of the loan.
Related News : Mortgages |
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Related News : Smile |
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