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cahoot offers new mortgage range

10 October 2005
Online bank cahoot launched a brand new range of mortgage products in conjunction with Abbey this week, including several fixed rate, tracker and flexible mortgages.

The new mortgages, offered as part of a trial to study customer demand for cahoot mortgages, are only available by calling cahoot directly.

If the trial is successful, cahoot will offer its own mortgages without parent company Abbey.

Managing Director of cahoot, John Goddard, said, "With this new range of competitive mortgages, we’re dipping our toe in the market and testing the demand for mortgages from cahoot.

"As these mortgages are currently only available over the phone, they will really suit people who are comfortable without face-to-face help from a mortgage adviser.

These are some of the best rates on the market and we hope the trial will prove popular."

The trial mortgages will be available until next year and offer customers the unique choice of a lower booking fee and a higher rate or, conversely, a higher booking fee and a lower rate.

The cahoot Flexible Plus mortgage is expected to be popular as it offers payment flexibility and an offset facility which can potentially reduce the amount of interest the borrower pays, helping them pay off their mortgage earlier.

If the trial is successful, the new mortgages will only be available online or by telephone.

The online bank has become popular since its launch in 2000 and has won the Moneyfacts best current account award three years running.

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