Website: Cheltenham and Gloucester
Phone: 0800 226341
Consistently impressive amongst old-style lenders; a good branch network and a clear and easy website. No hidden charges and whilst not impressive for special cases such as bad credit, definitely worth investigating for the standard homebuyer. The Cheltenham and Gloucester mortgage service is a benchmark company.
A Cheltenham and Gloucester mortgage gives you the benefit of a company with a long and solid reputation as a lender. It's no surprise then that whilst the products don't have bells or whistles, the site is exceptionally easy to understand, clear and concise, and the products offer good value.
Quite simply, fixed-rate, capped, discounted and tracker mortgages are on offer, with tie-ins; or sign up for the standard variable rate mortgage and avoid being tied in. It's that simple. Buy-to-let mortgages are also simple: you'll get the same deal as a normal mortgage with the proviso of a maximum LTV (loan to property value) ratio of 80%. To compete with the flexible products from other providers, there's a Homeowner loan- you can borrow up to 95% of the value of your home at mortgage rates. All very straightforward.
All applicable Cheltenham and Gloucester mortgage rates are one click away on the site, and even the early repayment fees are clear if a little steep on some products. These are not flexible mortgages, but by arrangement (and not necessarily with a fee attached) you can take a payment holiday or pay more or less than you had planned.
All in all; Cheltenham and Gloucester offer most standard buyers (non-specialist mortgages) a good and above all simple deal. Apply online, and save the £199 administration fee.
