They are minimum standards. The essential features of CAT standard mortgages are summarised for borrowers in the table below. The notes which follow explain and expand upon the table so that lenders can be clear what is expected of them. Full credit for all payments when made. Any other fees disclosed in cash up front.
Borrowers pay no fees to brokers.
No arrangement fee. When the base rate falls, interest rates must adjust within a calendar month. No redemption charges at any time. No redemption charge after the fixed or capped rate period. No redemption charge if you stay with the same mortgage lender when you move home.