90% Mortgages – C&G Offer Selection Of 90% Mortgages April 2010
90% Mortgages From Cheltenham & Gloucester
Lenders offering 90% mortgages have increased recently, and the Cheltenham and Gloucester is no exception. They have a range of tracker and fixed rate deals aimed at both first time buyers and those remortgaging.
Tracker Deals
2-yr Tracker – maximum LTV 90%
5.99% (5.49% above base rate) until 31st May 2012
Reverts to standard variable rate – currently 2.5%
Product fee – £395
Overall cost – 3.1% APR
Full Term Tracker – maximum LTV 90%
5.49% (4.99% above base rate) for term of mortgage
Product fee – £1395
Overall cost 6.3% APR
Full Term Tracker – maximum LTV 90%
5.99% (5.49% above base rate) for term of mortgage
Product fee – none
Overall cost 6.0% APR
Fixed Rate Deals
2-yr Fixed Rate with no valuation fee – maximum LTV 90%
7.19% – until 31st May 2012
Reverts to standard variable rate – currently 2.5%
Product fee – £895
Overall cost 3.3% APR
2-yr Fixed Rate – maximum LTV 90%
6.99% – until 31st May 2012
Reverts to standard variable rate – currently 2.5%
Product fee – £895
Overall cost 3.3% APR
3-yr Fixed Rate First Time Buyer Exclusive – maximum LTV 90%
6.49% – until 31st May 2013
Reverts to standard variable rate – currently 2.5%
Product fee – £895
Overall cost 3.4% APR
3-yr Fixed Rate – maximum LTV 90%
6.99% – until 31st May 2013
Reverts to standard variable rate – currently 2.5%
Product fee – £895
Overall cost 3.6% APR
3-yr Fixed Rate – maximum LTV 90%
7.19% – until 31st May 2013
Reverts to standard variable rate – currently 2.5%
Product fee – £395
Overall cost 3.6% APR
5-yr Fixed Rate – maximum LTV 90%
7.19% – until 31st May 2015
Reverts to standard variable rate – currently 2.5%
Product fee – £895
Overall cost 4.2% APR
5-yr Fixed Rate – maximum LTV 90%
7.39% – until 31st May 2015
Reverts to standard variable rate – currently 2.5%
Product fee – £395
Overall cost 4.2% APR
5-yr Fixed Rate – maximum LTV 90%
7.69% – until 31st May 2015
Reverts to standard variable rate – currently 2.5%
Product fee – none
Overall cost 4.3% APR
5-yr Fixed Rate Online Exclusive – maximum LTV 90%
7.29% – until 31st May 2015
Reverts to standard variable rate – currently 2.5%
Product fee – £795
Overall cost 4.2% APR
Looking more closely at these 90% mortgages the 2 year and 3 year fixed rate along with the 2 year tracker seem to be the most attractive in terms of the overall costs. The reality of the overall cost depends on the base rate which can only really go in one direction and that is up, which could be sooner rather than later .
With that in mind the 2 year tracker from this lender looks like a reasonable deal assuming the Bank of England does not escalate the base rate sharply. For those who predict the rate to be up to around 2% within the year then one of the 5 year fixed rate deals may be worth considering as the tracker rate could end up at whopping 7.5%.
Related posts:
