Is this RBS offer a good deal?

MiM

I've received a leaflet from RBS - who I've never found competitive for any financial products in the past - offering what sounds like a good morgage deal.

It's Discounted to 3.99% variable until August 2005 then 6.6% APR variable.

Is that good?

Many thanks

payless

It might be... or it might not be

For anyy deal you would look at

Check for whether its stepped ( cheap for say 6m, moving gardually up towards the standard rate- but tied in)

Look at fees involved

Are redemption penalties past incentive period?

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Is it for purchase or remortgage - does this fit with what you want.

Are you happy that its variable- or would security of a fixed ( at higher rate suit you better)

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That said I can see the offer advertised on their site- but can't find the nitty gritty bits

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With the deal liekly to be much less than 12m ( Ok poss 11m on a remtg, but much less on an average purchase )make sure the ingoing/ outgoing costs do't eat into the deal's short term savings

System

i checked this one out but on the website it says phone for details bleh doesnt give u terms like if ur tied in on the variable rate beyond when the good time ends

MiM

Many thanks for that Payless. Much appreciated.

Cheers Colonel.

MiM

If anyone's interested, there's a Booking and Arrangement fee of £395, you pay your own legal and survey fees and there are no tie-ins beyond the discount period.