Set at a certain level above the Bank of England base rate and then moves in line with it for a set period.
Please see our helpful guide to understanding the mortgage rate table, in which you'll find the key mortgage product information to help you when making sure the product is what you're looking for.
Please note that these deals can be withdrawn at any time.
For loans of between £5,000 and £1,000,000 Between 80% and 85% of your home's value
| Initial rate | Followed by our Homeowner variable rate, currently | The overall cost for comparison is | Product fee | Early Repayment Charges |
|---|---|---|---|---|
|
||||
| 4.54% (variable) Tracks at 4.04% above the base rate until 31 March 2014 | 3.99% for the remainder of the term | 4.3% APR | £995 |  Yes until 31/03/14
|
Please check the date the rate tracks until as depending on when your loan starts, it may not be exactly two years - it may be slightly more or slightly less.
In addition to the specific information that will be taken into account in agreeing additional borrowing, such as the value of your property and your income, there are some other general points that currently apply to all C&G mortgages which you need to know about:
The table below shows some of the fees you may need to pay when you apply for a C&G mortgage. To find out which fees may apply to you please speak to one of our mortgage experts.
| Fee | Amount | Brief description |
|---|---|---|
| Mortgage account fee | £265 | You may need to pay this fee which covers the setting up, routine maintenance and closing down of the mortgage account. It is fixed and cannot be changed without your agreement. The fee will be paid on completion out of part of your loan but interest will not be charged on this part of the loan. Part of each monthly payment you make will be used to repay the mortgage account fee so that it is repaid over the term of your mortgage. |
| Application fee | £99 | You may need to pay this non-refundable fee if you're buying a new property or moving to a C&G mortgage from another lender. |
| Product fee | As shown in the Overview tab | With some of our mortgage deals there's a product fee to pay, with others there isn't. Usually, there's a choice, and you can get a lower rate in return for paying a fee or no fee and a higher rate. Where a product fee applies, it will be added to your new mortgage. You can then pay the fee off if you want to, or leave it on your mortgage to spread the cost. If you pay it off within 30 days of the start of your mortgage, no interest will be charged on it. If you leave it on your mortgage, interest will be charged on it as part of your main mortgage. |
| Valuation fee | Dependant on property value | Payable if you're buying a new property. |
| Transfer of funds fee | £35 | You may need to pay this non-refundable fee for the transfer of money when your mortgage starts if you're buying a property, switching your mortgage from another lender, or are an existing C&G or Lloyds TSB mortgage customer borrowing more. |
For more information, view the full list of Fees & charges.
An early repayment charge applies during the tracker period. This means you will face a charge if you repay or change more than 10% of the loan's capital balance (as at 1 January) in any one year. As a current concession, you can repay up to 10% each year without the charge applying (unless you go on to repay or change the rest of the loan within the next six months). The charge varies depending on how long you have left on your tracker rate - see the table below.
| Repayment Period | Charge (% of amount repaid or changed) |
|---|---|
| Before 01/04/13 | 3% |
| 01/04/13 - 31/03/14 | 2% |
Your loan will switch to the Homeowner Variable Rate, which at that time, could be higher or lower than the rate you will have been paying and may vary over the remaining term of your mortgage.
Below is a list of items you may need handy when you apply:
