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Mortgage Talk highlights the week’s mortgage deals

National independent mortgage broker Mortgage Talk has highlighted a selection of the week’s mortgage deals.

Alliance & Leicester is offering a fixed rate deal until the October 31 2007 at a rate of 4.24%, reverting to the standard variable rate for the remaining term of the mortgage, currently 5.25%.

The overall cost for comparison is 5.2% APR. An early repayment charge is payable if you repay all or part of this mortgage during the fixed rate period.

There is a valuation fee of 280 and an arrangement fee of 395 that can be added to the loan.

A&L is also offering a fixed rate deal until November 30 2010 at 4.54%, reverting to the standard variable rate for the remaining term of the mortgage, currently 5.25%.

The overall cost for comparison is 5.1% APR. An early repayment charge is payable if you repay all or part of this mortgage during the fixed rate period.

There is a valuation fee of 280 and an arrangement fee of 395 that can be added to the loan.

Norwich & Peterborough is offering a variable rate two year discounted scheme at a current interest rate of 3.55%, reverting to the standard variable rate for the remaining term of the mortgage, currently 6.3%.

The overall cost for comparison is 6% APR. An early repayment charge is payable if you repay all or part of this mortgage within five years. There is avaluation fee of 225 and no arrangement fee.

The Abbey is offering a five year discounted scheme, at a current rate of 4.79%, reverting to the standard variable rate for the remaining term of the mortgage, currently 6.5%.

The overall cost for comparison is 6% APR. An early repayment charge is payable if you repay all or part of this mortgage within five years. There is a valuation fee of 260, plus an arrangement fee of 499 that can be added to the loan.

Scarborough is offering an 11% cashback fixed rate deal, until October 30 2015 at a rate of 6.99%, reverting to the society’s SVR of 5.49%.

The overall cost for comparison is 6.6% APR. There is a requirement to repay the cashback on early repayment of the loan within ten years of the start date.

There is a valuation fee of 285 and an arrangement fee of 395, which can be added to the loan.

Mortgage Express is offering a fixed rate buy to let mortgage until September 30 2008, at a rate of 4.74%, reverting to their standard variable rate, currently 6.25%, at the end of the period.

The overall cost for comparison is 6.1% APR. An early repayment charge is payable if you repay all or part of this mortgage during the fixed rate period.

There is a valuation fee of 315, while the arrangement fee of 1500 can be added to the loan.

For those looking to remortgage, The Halifax is offering a fixed rate deal until September 30 2007 at a rate of 4.29% then reverting to the standard variable rate for the remaining term of the mortgage, currently 6.5%.

The overall cost for comparison is 6.2% APR. An early repayment charge is payable if you repay all or part of this mortgage during the discount period.

This mortgage offers a free valuation, free legal work but an arrangement fee of 599, which can be added to the loan. Existing lenders may impose penalties on mortgagees switching to a new lender.

The best tracker this week is from Alliance & Leicester, with a two year deal at variable base rate minus 0.16%. This equates to 4.34%, reverting to the standard variable rate for the remaining term of the mortgage, currently 5.25%.

The overall cost for comparison is 5.3%. An early repayment charge is payable if you repay all or part of this mortgage within the first 24 months.

There is a valuation fee of 280 and an arrangement fee of 395, which can be added to the mortgage.


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