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Birmingham Midshires
Birmingham Midshires is a division of the Bank of Scotland and part of the Halifax Group, which offers specialty mortgage and savings products.
Birmingham Midshires offers two general tracker mortgages. They are both Lifetime Trackers, but offer different loan values (up to 95% of the home value) and interest rates. They both use the Bank of England Base Rate, with a fixed percentage added to that value for the life of the loan. The two options have product fees, ranging from £499 to £799. The 6.54% Lifetime Tracker has no early repayment charge; however, the 6.40% loan does.
The fixed rate mortgages offered by Birmingham Midshires are both for three years. One loan is at 6.24% for three years, after which time it uses the Bank of England Base Rate plus 1.99% for the rest of the mortgage’s term. There is a product fee of £1399 and early repayment charges apply. Their other fixed rate option has a rate of 5.75% for the first three years, afterwards using the Bank of England Base Rate plus 1.99%. The product fee is 1.50% of the amount of the loan and early repayment charges apply.
Birmingham Midshires offers one general flexible mortgage, currently at 7.00%.
As for Buy to Let properties, Birmingham Midshires offers six fixed rate mortgages and five tracker mortgages, but no flexible or capped options.
If you are in the market for a mortgage, use our tools on SimplyFinance.co.uk to find the best company and product for you, keeping in mind that this article should not be interpreted as financial advice or as a recommendation by SimplyFinance to use any individual service or to invest with any company advertised or mentioned.
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TODAY’S MORTGAGE RATES
| Loan Type | Rate | APR |
|---|---|---|
| Fixed | 5.6% | 6.9% |
| Tracker | 5.64% | 5.9% |
| Discounted | 5.7% | 6.9% |
| Capped | 6.05% | 7.2% |
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