Society Launches New 2 Year Discount Rate Products16 February 2017
The Society has launched new two year discount rate house purchase and remortgage products.
The new products offer highly competitive interest rates for loans up to 65% loan to value (LTV) across England and Wales.
The Society offers a two year discount rate house purchase mortgage at 1.39%, with a maximum LTV of 65%. The product is available for house purchase throughout England and Wales, with a £1200 product fee which can be added to the loan. A 2% early repayment charge applies.
For those customers looking to switch their mortgage from another lender, the new range also includes a two year discount rate remortgage at 1.39% with a maximum LTV of 65%, available throughout England and Wales. This product also features a £1200 product fee which can be added to the loan. The remortgage product has no application fee and one free standard valuation, although a 2% early repayment charge applies.
Further information about the product range including full terms and conditions, can be found here.
Colin Strong, Head of Lending Procurement, commented: “The launch of these low interest rate products alongside our already competitive range highlights the Society’s determination to be the first choice for mortgage customers both in our local area and beyond. 2017 is shaping up to be an interesting year for homebuyers who are benefitting from weaker house price growth than expected, so now is an ideal time for customers with larger deposits to consider looking at making their next moves on the property ladder.”
Loans available to persons aged 18 or over and are subject to status and valuation of a suitable property, over which security will be required. All lending will be subject to appraisal of the financial standing of the applicants.