Cheltenham & Gloucester

Cheltenham & Gloucester manages mortgages and savings for a century and a half and currently designs, markets, sells and administers them. The body is a part of the Lloyds Banking Group and the lender for the C&G mortgages.

The mortgage services of the company include: buying property cases, remortgaging, switching to a new deal, online exclusives, buy-to-let (for investors who buy in order to let out). The company’s mortgage experts explain and direct you in your choice of mortgage. However, the client should have a general idea of the kinds of mortgages that C&G offers in order to choose properly. They can be:

• Fixed-rate (meaning your monthly payment will be fixed until a certain date)
• Tracker (the interest rate changes according to the base rate of BE by a certain percentage to a definite date)
• Standard variable rate (the rate moves according to the client’s wish). The C&G SVR doesn’t exceed 2% above the BE base rate
• Capped (the monthly payment doesn’t surpass a certain limit within a set period of time)
• Discount (the monthly payment is discounted by a certain percentage for a defined period of time)
• Cashback – the mortgage issues a cash lump sum at the end of the mortgage at the borrower’s disposal
• Offset - no interest on the borrower’s savings and no interest on the equivalent amount of his loan

C&G has also developed various kinds of savings products depending on the client’s needs. The classic accounts are a flexible way of saving money as they display the option of cash withdrawals of up to £1,000 a day. C&G offers that service for free up to ten times a year. On the other hand, the bonus account displays tiered interest rates and gives you a bonus for the first six months. To be mentioned, the fixed rate account promises a fixed interest rate until September 2010. Another type of account is the cash ISA which is tax-free. The C&G young investor’s account provides interest no lower than 1% below the BE base rate. Instant withdrawals for the children’s benefits are permitted.

Whether you need a new mortgage or you want to establish a savings account, C&G provides an abundance of options according to your needs. Take an advantage!

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