From This is Money:
For those who can afford to stump up a whopping 35% deposit, Northern Rock is paying 2.79 above base on a two-year tracker, making the current rate 3.29%.
With a £995 fee, monthly repayments work out as £734.15 on a £150,000 homeloan.
This compares unfavourably to the best two-year tracker offered by Alliance & Leicester. At 2.45% over base (making the current rate 2.95%), and available at 75% LTV, repayments are £707.42.
Mortgage experts believe that this deal is fairly middle of the road. But on the plus side, Northern Rock does give you more flexibility on overpayments.
Meanwhile, First Direct has launched a competitive lifetime tracker at 2.29% above base (so currently 2.79%) with a £999 fee. Again, it is available only to those with a 40% deposit. Monthly repayments are £695.
HSBC’s offering for those with 40% deposits charging 2.24% above (2.74%) works out slightly cheaper, with monthly repayments of £691.
For those with…
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