Year of the CAT at Nationwide

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The Independent Online

From 1 May, all of Nationwide's new mortgage products will come with a CAT mark.

From 1 May, all of Nationwide's new mortgage products will come with a CAT mark (low cost, easy access, simple terms). This move will make it the first major lender to universally adopt the standard, which was introduced by the Government in January 2000.

Until now, mortgage lenders have only offered a couple of CAT-marked products in their range of mortgages. The minimum criteria for CAT-marked products include no hidden fees, daily interest and the availability of products to existing, as well as new, customers.

* Tel: 0800 302010

Charcol's new mortgage Mortgage broker Charcol is offering a new mortgage for those moving house or remortgaging. The loan is fixed at 4.7 per cent until 31 March 2003, after which it switches to a tracker mortgage at 0.6 per cent above the Bank of England base rate.

* Contact: 0800 718191,

C&G tries buy to let

Cheltenham & Gloucester has entered the buy-to-let market. Its new product enables prospective borrowers to take 50 per cent of the rental income of the property into account when applying for a loan. The interest rate is 7.5 per cent with no early redemption penalties, while the maximum loan to value is 80 per cent.

* Contact: 0800 272 131,

Direct Line in car offer

Direct Line is offering motorists the chance to win a Ford Focus. To enter the prize draw, they must disclose the month when their car insurance is up for renewal. Anyone referring a friend will also be entered into a weekly prize draw to win a magnum of champagne. The competition runs until the end of May.

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