Manchester BS has launched a new three year fixed rate mortgage that is a real challenger in its field.
The Fixed Rate Mortgage for house purchase only offers buyers a rate of 4.79% for three years, reverting to 4.99% for the term, a maximum loan-to-value (LTV) of 85%, and a fee £995.
This new three year mortgage from Manchester BS is very competitively priced.
The top rate in this sector is 0.20% lower but has a very high fee. If products with similar fees at maximum 85% loan-to-value are compared, there is only a 0.04% difference between the top rates and this deal.
With a reasonable fee of £995, this may certainly appeal to those looking for a higher LTV, although the lack of any product incentives may count against it.
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