Charcol leads with stepped discount

Charcol is offering homeowners and remortgagers a market-leading two year stepped discount loan at 2.75% (5.8% APR). There is a discount of 3.2% for the first year which is followed by discount of 1.52% in the second year with the option of repaying up to 25% penalty free during each of the first 2 years. The loan then reverts back to the standard variable rate (currently 5.95%), when borrowers can switch to alternative loans penalty free. Details of the loan: Maximum LTV: 95% (MIG free to 90%) Early Redemption Charge: 6 months interest in 2 year; can repay up to ...