During the fixed period the redemption penalty is three months' interest, but unusually there is a one-month penalty after that for the entire life of the loan. But these loans, which are not available through branches, will be withdrawn on Wednesday and replaced with higher rates - 7.4 per cent for four years and 7.99 per cent for five.
Northern Rock has a two- year loan at 4.99 per cent with a pounds 200 fee. Insurances with the society are compulsory.
Barclays has launched a range of fixed-rate loans including one - a three-year fixed rate of 7.59 per cent - with a variable-interest early redemption penalty.
It is offering first-time buyers a five-year fixed rate of 7.99 per cent, and existing homeowners a 10-year fixed rate at 8.99 per cent, and a five-year fix at 8.49 per cent.
Nationwide has a new range of one-year discounts on its cashback deals. Yorkshire Building Society's new cashback offers pounds 750 on loans capped at the present standard variable rate of 7.74 per cent.Reuse content