Butterfield offers fixed rates

Butterfield Bank (Cayman) Limited is offering preferential fixed interest rates on its Gold Mortgage.

Qualifying customers will save 0.5 per cent per annum against the comparable fixed rate for First Time Buyer and Classic Mortgages. With the bank continuing to offer a three-year fixed rate of 8.75 per cent or a five-year fixed rate of 9 per cent per annum to its Classic and First Time Buyer Mortgage customers, this means that Butterfield Gold Mortgage customers can now obtain a loan for just 8.25 per cent per annum fixed until December 2009.

These fixed rates are available for mortgages approved until 31 December and drawn before 14 February. Customers with an existing Butterfield Lifestyle Mortgage based on a variable interest rate can switch to a fixed rate at any time without penalty and can therefore also avail of these rates during this period.

Maureen Watler, head of Personal Lending at Butterfield Bank, said, “The offering of these fixed rates for our Gold Mortgage product will provide new and existing qualifying customers with the benefit of a lower monthly payment and also the comfort that this rate will be in place for the term of their choice, whether it is the 3 or 5 year term and also the assurance that their repayment amount will not change during this period.”

The Butterfield Lifestyle Gold Mortgage is suitable for customers who enjoy a high disposable income and are looking to make their available cash work harder. Benefits include a pre-approved Butterfield VISA Gold credit card and preferential insurance terms with Island Heritage.

As with all Butterfield Lifestyle Mortgages, various payment options are available. All loans are subject to credit approval. For more information about Butterfield Bank’s Lifestyle Mortgage products, email [email protected] or call 949-7055.

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