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Cheap fixed rate mortgage deal by Egg


Egg has introduced a cheap fixed rate mortgage deal. The three-year product will be available for homeowners from the 1st of February 2008.

The mortgage deal has a competitive interest rate of only 5.39 per cent. The mortgage lender has included an arrangement fee of £499 and made the deal start for loan-to-values of up to 90 per cent.

After the fixed rate product is completed, a mortgage interest rate of 6.79 per cent must be deposited, there are no early repayment charges in this three-year fixed rate mortgage deal.

Stephen Bright, head of lending at Egg: "This mortgage is aimed at customers who want the security of knowing exactly how much their monthly payment will be, and get it fixed at a great rate,"

"In today's climate with increasing energy prices and economic uncertainty, people want to manage their finances more effectively and budget for the longer term."

The Egg firm is one of many lenders who have lately unveiled new fixed rate mortgages, working in conjunction with Scarborough Building Society and Alliance and Leicester.

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