Principality launches tracker to fixed-rate mortgage deal

Nationwide launches competitive new fixed-rate mortgage

Nationwide has announced the launch of a new two-year fixed-rate mortgage that is designed to help first-time buyers in particular.
Yorkshire BS launches short term fixed rate bond

Yorkshire Building Society has introduced a new savings bond offering a competitive rate and a choice of monthly or annual interest payments.

Friday, 03 September 2010 12:00

Principality has announced a new mortgage product designed to appeal to borrowers who cannot decide whether to take out a tracker or fixed-rate homeowner loan.

Known as the Three-Year Tracker Switch to Fixed product, it tracks the Bank of England base rate plus 2.49 per cent.

However, borrowers will be able to switch to one of Principality's fixed-rate options at any time, without needing to pay the three per cent early redemption charge.

Commenting on the latest offering, marketing director at Principality James Wright said the deal has been introduced in response to the "confusing set of circumstances" borrowers are currently facing.

Twitter: My Finances