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Wednesday, October 18, 2006

Hefty Mortgages For Hefty Bonuses

Those of you expecting a hefty bonus this Christmas, yet looking to borrow a minimum of £500K, may care to take a look at the Woolwich's "The City Bonus Mortgage".

The product offers a minimum loan of £500K, with an offset facility.

The City Bonus Mortgage offer starts at a 0.51% discount below the Bank of England's base rate, offering an initial pay rate of 4.24%.

This lasts until July 2007, when it reverts to base rate plus 0.49%. This would give a current pay rate of 5.24% for the life of the loan. The mortgage has an arrangement fee of £1,499.

To read more about this visit Citywire

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