L&C fixed-rate mortgage launched
www.moneynews.co.uk > Mortgages > L&C fixed-rate mortgage launched
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Money News |
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L&C fixed-rate mortgage launched
Thu 30th Jun 2005
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The L&C fixed-rate mortgage is fixed at 4.48 per cent for two years.
It is available at up to 95 per cent LTV and comes with an arrangement fee of £495, a refunded valuation offer and free legal work for remortgages.
For the first two years, early repayment charges apply, after which time the rate goes back to one per cent above the bank base rate, which is currently 5.75 per cent for the remaining duration of the loan.
James Cotton, mortgage specialist at L&C, explained: "Thousands of borrowers who took advantage of rock bottom fixed rates in the summer of 2003 are facing a substantial leap in their monthly payments in the next month or two as their deals finish.
"This new deal will give many people in this situation the ability to switch to a new deal without incurring high set-up costs."
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