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C&G re-prices - downwards

26 July 2004
Cheltenham & Gloucester has announced the re-pricing of its fixed and capped-rate mortgage ranges.

The UK's third largest residential mortgage lender says the new, lower-priced, plans will replace its previous range announced on June 29th.

Two, three, five and seven-year deals are available for customers moving home, and these can be fixed between 5.59 and 5.99 per cent.

As for capped-rate mortgages, these are limited at 5.99 per cent for the next four years until September 2008.

Early repayment charges will only be restricted to the length of the fixed and capped-rate periods.

C&G sales director, Nick Hale, commented: "C&G has re-priced its fixed and capped-rates downwards."

In addition C&G has introduced a new two-year premium fixed-rate at 5.29 per cent for those borrowing over £100,000.

Mr Hale added: "This additional product offers customers with a reasonable deposit and who are looking for a larger loan, a very competitive rate, with the security of knowing exactly what their payments will be for the next two years."

For those customers looking to remortgage they can fix their mortgage between 5.84 and 6.24 per cent - with deals from two to seven years.

With loans of £25,000 and over, Cheltenham & Gloucester's remortgaging service is free from the £299 administration charge.

Additionally, there are free legal and valuation fees for anyone receiving a loan of £50,000 or more.