Loughborough Building Society has shaken up the charts in the discounted mortgage sector with a brand new three-year deal. This product has leapt straight into the Moneyfacts best buys and grabbed a five-star rating.
This discounted mortgage offers a rate of 2.29% for three years at a loan-to-value (LTV) of 80%. Absolutely no fees are payable.
The deal is available to first-time buyers, second-time buyers and remortgagors with the right deposit. While no incentive package is available, the mortgage comes with the bonus of no fees, which will help to keep initial set-up costs down.
Borrowers are also offered the flexibility of overpayments, which can be up to 10% of the outstanding balance.
The attractive rate of this mortgage, combined with the lack of fees, means that this deal is likely to appear on the radar of many borrowers. Although no incentive package is available, the low set-up costs and the flexibility of overpayments mean that this mortgage merits the top rating.
The highest accolade of five Moneyfacts Stars has been awarded.
Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.
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