14 February 2005
Charcol has announced the launch of a five-year fixed rate mix and match mortgage.
The rate for this new product is 4.8 per cent or 6.1 per cent APR.
Borrowers can add a lifetime offset tracker, which carries an initial rate of 4.65 per cent (5.4 per cent APR).
They are therefore given greater flexibility when choosing how to structure their mortgage.
Senior technical manager at Charcol, Ray Boulger, said the rate, "is in fact cheaper than many two and three-year fixes currently available".
He continued: "The mix and match feature allows borrowers to benefit from the security of the market leading five-year fixed rate, but still optimise the use of their savings by choosing to have part of their mortgage on the offset tracker to obtain maximum flexibility."
The mix and match facility is optional and borrowers can choose to have the whole mortgage on either the fixed rate or the offset tracker.
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