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Cheltenham and Gloucester

Type: Fixed rate mortgages

Description: Cheltenham and Gloucester is offering a two-year fixed rate mortgage.

Conditions: The fixed rate of 6.69 per cent APR is available for loans from £5000 to £999,999.

Fixed until 28 February 2011, the product fee is £895 and early repayment charges apply until 28 February 2011. The loan is available up to 90 per cent loan-to-value.

Contact: www.cheltglos.co.uk

Verdict: The rate of 6.69 per cent for two years is competitive. With a product fee of £895 but ERC charges 2011, this will be one mortgage that could do well if the client requires such a high loan-to-value and is happy to be locked in without the ability to overpay. But despite the current mortgage climate, this is not an incredible deal.

Rating: 3/5 stars