Yeah the BBVA loan is very good. Its variable and stays at 2.5% + base rate. Interest is charged throughout the payment holiday. If you take a 25% reduction for the first 24 months based on a £80k loan over a 10 year period and at the current rate of 3% it works out as £697.74 for the first 24 months, followed by subsequent payments of £1011.49 until maturity. The set up fee is £1500, and yes it is in sterling. There are no early payment, lump sum payment or early cancellation fees.